We did this through our LLC, I was actively managing the project while my brother was passive. 

@Andrew Wade first narrow down if you want to be an active or passive investor.

If one of you actively manages the property, pursuing Real Estate Professional Status (REPS) could unlock full deductions against W-2 income.

I'm going to follow this to see what tips folks provide.MikeHey Mike, I am actively investing there so feel free to reach out with any questions!   

One CPA is telling us that we need to file a partnership return for all LLCs and the other CPA is telling us that we can place all properties on our Schedule E and use Schedule C for our property management activities We like the Schedule E and C approach because it's cheaper.

Your VA loan will be crucial to your real estate investing growth, especially since it affords you the potential opportunity to own more than one property, depending on your overall allotment.For active military personnel, that conundrum of where to invest and where you will end up is always part of the issue that sometimes causes analysis paralysis so it's great you have one in VA Beach already.

Active operators are far more likely to succeed in the entry level SFH space and that's not who buys entry level homes from turn key operators. 

The great part about contacting the CDC directly (and a large one such as TMC) is they can make referrals to banks that would be interested in your project (i.e. banks that have been actively doing SBA hotel loans)...rather than you having to chase down the bank first, which can be very difficult.Regular commercial lending requirements are applicable (will vary by bank):1 - no bankruptcies2 - no foreclosures3 - FICO > 7004 - net worth >= loan amount5 - post closing liquidity >= 12 months of P&IIf this works out, you are going to be glad that you made this post.

Example; I am invested in a fund that does active option plays on Tesla.

As you guide landlords through that stressful process, you can introduce how your tenant screening and management services help prevent future issues.2.Focus on Rental Listings as a Lead Source•A highly effective way to grow your PM business is to actively market rental vacancies for landlords.