Most who get tripped up are those buying the smaller multi-families that don't possess the correct use permit/historical rental license activity. 

My point is this, I am actively involved/advising this investor, providing local vendors contacts (handyperson, surveyor, painters, etc) and I "don't wait for them to call me", I call them weekly. 

Even with active investments, diversification is better.  

The IRS is concerned with the tax return that is reporting the activity of the property. 

Quote from @Allen Masry: Quote from @Chris Seveney: Do you want to be active or passive ?

Refinances are still active, slim pickings but some players are out there who are direct lenders, flip loans are also available (75-100K) min property other than conventional and gov backed loans.  

I’m also an active member of the local landlord association in Joliet (JRLA), which has been a great resource for networking and education.

But it's rapid price growth and sales activity could indicate a more volatile market, with the potential for corrections if demand slows as affordability becomes an issue.

Game changer for active investor looking to get more passive investments, busy professional looking to diversify in real estate, individual investor looking to get into commercial or larger assets. 

As an active-duty (soon transitioning) Air Force myself, I know the VA loan is a powerful asset for us.