Note that "bird dog"-ing is illegal in some states, including Illinois.Wholesaling of real estate is considered illegal by the courts in some states where the distinction between marketing a contract and marketing a property has been blurred by the wholesaler's marketing tactics.

That is a somewhat important distinction from what most people consider a "conventional" loan because it will be at less favorable rate and terms than a 1st.

But homestead/non-homestead is an important distinction, also if agricultural use or not....all factoring into a homeowner's right of redemption.

If you have investors, I’d suggest starting a separate and distinct QB file for each note.  

Thank you for pointing out this distinction Tom!

It might be worth considering though, that this is an affluent area of an expensive state (CA) and might be a lot harder, financially, to break in to.Area B: This is not a distinct area, but a general idea. 

She can make the distinction between: "I will manage that for you" and "I would *like* to manage that for you" (it's a BIG distinction).And the reality is similar to what @James Wise mentions, PM isn't exactly a high margin business. 

Perhaps that was because it was under the same insurance company, a rather important distinction that should be highlighted if that was the differentiating factor.  

The distinction of Real Estate professional is deriving your income from spending more than xxx hours working in the Real Estate profession.

A real estate professional is a distinct designation from the IRS and there are certain rules/thresholds to do before you can call yourself a real estate professional for IRS purposes.You may want to factor in all of the above to see what the cost of cost seg will be and what your decreased tax liability will be for 2017 and what your refund will be from carrying back the NOL to 2016/2015.