Or develop some sort of subject matter expertise.

I would also start looking to develop some key relationships.

You can get that experience by working for a commercial real estate developer / owner / operator

The definition of a “trade or business” comes from common law, where the concepts have been developed and refined by the courts over time.

I'm about to embark on my first commercial real estate development project.I plan to buy a ~1acre property in Georgia to construct a 20,000sqft building with the following breakdown:8,000sqft retail space7,000sqft warehouse space5,000sqft office spaceI'll be using some of the office space and warehouse space for myself.

I live in miami happy to give some advice I'm in real estate development, land development, ground up construction, and brokerage 

I personally recommend looking into out of state investing in a market like Columbus OH for cash flowing deals that hit the 1% rule and have lots of appreciation due to the great macroeconomics - population growth, job growth, and major companies developing here (Meta, Intel, Amazon, Google, etc.).

So in case you are looking to invest in Dubai it is a great opportunity but beware of the following:- Developer Reputation: Investigate the developer's track record, previous projects, and financial stability.

Worse-case, I'd ask them how much they want to pay me to develop this list for them - which would include an annual fee to update it.3) We've always done this, so no bid deal to us.

I was the first developer to build new on that street.