Now, this is not all agents/realtors, and that's why it's imperative to find someone who you trust and looks to build long-term relationships, and not someone just in it for the quick money, but it definitely was a chunk of them.

@Justin R.I guess you've never lost money. 

The LLC is the new owner of the property so a policy that is just in your name is not providing any coverage.  

@Jami Kloet I was just in Costa Rica last week with my son vacationing.

Just in the last week I spoke with those on BP they were about to overpay by 30 % and or buy a terrible prop in a terrible area.

That extra 5% isnt gone, just in a deeper equity position.

Quote from @Justin Harris: BiggerPockets Community,My wife and I currently live in Seattle and are looking for guidance in our real estate investment strategy.

Under the IRS rules, a person  qualifies as a real estate professional if: (1) more than one-half of the personal services the taxpayer performs in trades or businesses during the tax year are in real property trades or businesses in which the taxpayer materially participates, AND.....(2) hours spent providing personal services in real property trades or businesses in which the taxpayer materially participates total more than 750 during the tax year.Like @Greg Scott and @Russell Brazil mentioned above, I don't believe that you would qualify as a REPS, but if you are going to try it, make sure you document it very well (i.e. with some kind of proof, like time cards, mileage forms, and/or receipts, etc.) so that just in case you do get audited, you at least have something to provide to the IRS agent. 

@Justin Pumpr, a few comments:1.

Hi Justin,Welcome to BP!