Unlike my current active stratagy on my 19 SFH,  I will not be able to recoup the renovation cost back out of the property value by having an 80% Loan to value pulled on the back end because the buy price is just not good enough.

So, like many, I've been intentionally on the sideline, but staying quite active with learning and keeping up with the economic data.

I'm so grateful for this amazing community and look forward to engaging and growing with you all! 

Hey Ammar,Yes, you are correct that owning and actively managing rental properties can qualify you for real estate professional status (REPS) under IRS rules.

Hi all,Been a BP pod listener for the last few months and am pushing myself to be more active here as well.

I have little knowledge, but actively am studying and reading each day, but I do love what I have learned thus far.

There are fewer regulatory and tax implications compared to short-term rentals.Short-Term Rental: Can provide higher income but requires more active management, marketing, and maintenance.

Showing off our skills and track record is important because it shows how valuable we are.Negotiation is a strong skill that helps everyone engaged.

You can qualify for this by:Having tenants for 7 days or less at a time.Materially participate, typically with the test: You participated in the activity for more than 100 hours during the tax year, and you participated at least as much as any other individual (including individuals who didn’t own any interest in the activity) for the year.If you materially participate, you can offset your non-passive income even if you have W-2 income.

Hi Ashutosh,I am a beginner just like you, are you still active in the high desert area?