But what you’re encouraging is that when I am 23, I should use the first 4 or so years just building a portfolio of LTR’s and then when I am 27, look into leveraging STR’s to meet the “Real Estate Professional Status” and “Material Participation” the IRS outlines, correct? 

Hello all,As you guys can see by my status, I am a beginner investor and would like to hear from my experienced investors here on this forum, what would be the best move to make in this situation?

The biggest thing I'm seeing actually isn't his residency status, but I think you'll have the biggest issue with the value of the properties you are looking at.

.- Realtor's Oversight: Your realtor may have failed to verify the status of the POS report early in the process, leading to last-minute revelations.Steps to TakeTo address the current situation and prevent similar issues in the future, consider the following steps:1.

Fix n flips are typically dealer status income not capital gain.  

These areas won't give you cash flow without significant downpayment, but their price/rent ratios are much more friendly compared to other cities in the Bay Area and you can also benefit from their appreciation.Another thing to put on your radar is the Real Estate Professional Status (REPS) election.

@Matt Motil  Have you heard of anyone legally getting the city to change the 2-family status to 3-family?  

And the very volume of information has helped them preserve their expert status.

It may be possible that your accountant is confusing it with real estate professional status

Create columns for Name, Street Address, City, State, Zip and then contact info: Last Contact, Relationship, Status, Email & Phone.IMPORTANT: do NOT ask people for THEIR business, ask for referrals!