This allows you to test all the systems and the people involved.  

We are both 28 years old with zero experience prior to getting involved, she works for the business now and I work Blue Collar in the trades. 

My involvement would go down drastically to where the only thing I'm doing would be funding the deals.  

Decide how involved in real estate you want to be.

Continually communicate clearly with all parties involved to make sure that expectations are as close to realistic timelines as possible.

Investing close to home allows you to gain hands-on experience, learn the ropes, and be more involved in the day-to-day.

I would tend to agree with the other CPAs typically.The 500-hour test is one of seven material participation tests used by the IRS to determine if a taxpayer is actively involved in a trade, business, or rental activity. 

I know because I was involved in it with O.C.. 

I was involved in two small infill developments in Michigan (about 15 houses in total) so two very small parcels. 

However, in emergencies or cases involving health and safety, we would attempt to contact the owner first and, if unsuccessful, proceed with the repair as outlined in the contract.Regarding the hot water heater, do you know if it genuinely needed to be replaced?