.- Background: Took some real estate classes before but really a lot of self learning on creative financing - Current Goal:To close my first wholesale deal within the next few months by learning from seasoned investors and applying proven strategies.I'm here to absorb as much knowledge as possible, so if you have any tips or resources, I’m all ears!

Typically, the same applies to LLCs where you and your spouse are sole members (single or multiple member LLC).

The thread addresses a different topic, the Real Estate Professional status, but the same principle applies to the hours in both contexts.

The law also doesn’t apply for abandon properties.

When it comes to housing, the FHA rules apply in addition to those of your state/city.

Hey @Chi Lo - I actually have a video on my YouTube page about this (lookup ClosedByMo on YouTube).Regarding walls being damp and waterproofed, it means there needs to be waterproofing on the basement retainer walls (this is something you can do post-construction and the contractors would need to dig around the house exposing the basement/foundation to apply the waterproofing). 

Have you applied for one?

Yes this is probably the best strategy for brand new people, but they need to study well and apply (like anything). 

If she qualifies and materially participates, passive loss limitations won’t apply, allowing you to offset your income with cost segregation and bonus depreciation.This post does not create a CPA-Client relationship.

Just trying to figure out how to best apply it.