Prior-year losses can’t offset W-2 income but can be used for capital gains or future rental income.For audit risk, high earners using REPS face increased scrutiny, so be prepared with detailed records.For material participation, keep a time log with tasks, dates, and hours spent on rental activities like tenant management, repairs, and bookkeeping.

I think a lot of times you get what you give - I've been a part of a couple during times where I really just wasn't spending time interacting, making posts, doing the assigned tasks, attending all the calls, etc.

I’m a very busy person with a lot of businesses and tasks that need to be done.

We are both physicians and relatively intelligent humanoids, but without knowing what you don't know, it seems a difficult task. 

I also hear a lot of how city of chicago is anti landlord on BP, I always tell clients don't buy in a bad area and it will not matter.

My thought is that your first task is to figure out exactly what must be done to correct the situation and then get a price tag.

Without that it will be a tough task to accomplish unless you work out some custom structure or bring the GC on the loan with you so you can leverage their direct experience.

My recommendation would be to tell yourself you are going to do 1 real estate investment related task a day / every two days / every three days (whatever that cadence looks like for you).

Have you heard of task rabbit? 

You could save some labor costs by taking on some of the demolition tasks yourself.