For REP status federally, you must meet two requirements: work 750+ hours in real estate activities and spend more than 50% of your total working hours on these activities during the tax year.

I grew up around a “grind” mentality, and my family members seemed to spend all the money they made.

So, realistically, how much time do you expect a PMC to spend getting multiple bids?

A common bit of advice seen on this site is, "Don't spend $20K on a mentoring program when you could spend that money on your first deal and you'll learn much more."

I currently work with investors looking to build their portfolio with single-family, long-term rentals while managing for them on the back end, making is hands-free for the investor to still work their W-2 job and live their everyday lives and spend it with family, hobbies, etc. 

I took the next 5 months to tackle everything myself spending approximately 17k in supplies and tools + paying a plumber and roofer 4k total to fix those issues.

For my area it isn't worth going the extra mile or spending extra money for something big and luxurious.

GC in my area cost 10% of the total and I would say that is worth it for what they provide, but if you have the knowledge and willingness to be on the phone with subs (and spend a lot of time on site) you could save that by DIYing it.

My regret is not buying one in Hawaii or somewhere else where my family could spend some vacation time.

And you use a cleaning lady who spends 5 hours to reset the property for the next guest.