CPAs often advise against pursuing this designation unless the time commitment and documentation are robust, as failing to qualify can result in IRS audits or penalties.The 500-hour rule pertains to material participation in specific real estate activities or businesses.

Top 3 reasons owners hire PMCs:1) No time to manage correctly2) No time to learn how to manage correcly: laws, documents, processes, etc.3) They're too nice and need someone to "save them from themselves"A good PMC can usually earn their fees by better managing the property/tenant than the owner, thereby:1) Increasing owners net profit2) Decreasing owner's time commitment, stress, headaches, etc.No matter what though, you should always plan to commit a couple of hours a month to manage your PMC.

I would get an attorney or title company involved to create your loan documents to ensure they comply with the law and cover all the aspects you need.Another method that is likely your best bet to take on investors is to create a joint venture (JV).

LLC-A deducts the 10% management fee, while LLC-B reports it as active income, subject to self-employment tax but eligible for tax-efficient salary and distribution strategies.Ensure the setup has a clear business purpose, reasonable compensation, and documented management services to avoid IRS scrutiny.

I wish you the best in your investing journey and this forum is chock full of very experienced and talented investors and realtorsDoes this helphttps://docs.google.com/document/d/1N-eMKaHkPJquU9r1jfrA-ZTk...

You'll need documentation of the cost to replace, hopefully, pictures from your cleaning team before their arrival, an owner's closet with lock for supplies, and limit the number of supplies you provide to a determined number.

Cost $500 per mailing and my timeI paid to have 10,000 post card mailers sent out by a company, took a month for them to go out after they designed and submitted the order - 5 unproductive calls - Cost (Too embarrassing to mention) Didn't receive feedback which address were no goodI paid to have advertising inserts I designed into the weekly coupon mailer.

What documents do they require, what credit scores do they allow, how do they verify previous rental history, etc.?

There is no law against a verbal agreement for something like that and since you had a documented relationship with the tenant that answer would have to be considered possible. 2.

But the real kiss of death was their arrival and documentation (with photos) of the poor & inconsistent cleaning.