So, does that mean that rental income will be classified as ordinary income too (vs investment income which is taxed at a lower rate)?

@Don KonipolI would classify myself as active/moderately passive: Two performing 2nd position notes in West Linn and Portland OR. flips with cash and self-directed IRA and a 2nd position 67-pad RV park stabilization project in Vancouver WA.

Since only a section of the sewer line was replaced, is this considered a repair, or would it be classified as CapEx?

To use the $2,500.00 threshold you have to use not only the CAP, but also have an SRA which sounds a lot like a Cost Segregation Study, which isn't something I can probably afford right now (maybe ever).The only thing I've bought this year that could be classified an asset is a 5 year old Brother All-In-One printer that I bought from someone for business use, for $60.  

You will want to keep the properties classified separately as you are able to deduct expenses incurred for a rental that won't be available to be deducted as a second home.

Businesses that don't make a profit get flagged for hobby losses....however all of these properties will see income because they are not financed.If I report all on Schedule C, the income will be classified as "ordinary" and I'll have to pay the SE tax...not to mention it will get flagged because I'm not a "real estate professional".  

Its been listed on a well known online local classified site since 2/12 and I've had a steady stream of people calling and coming to see it, and have gotten a handful of applications.

@Justin R.This is the kind of area where you want to sit down and go over the specifics with a qualified CPA or tax attorney.In addition to the specific letter of the law, you need to avoid any "direct or indirect" benefit between a disqualified party and an IRA.Even if a LLC partially owned by you personally was not directly classified as a disqualified party, if your IRA is facilitating the operations of that LLC, there is a potential indirect benefit to you as a member of the LLC.

They are classified as RV's and are illegal to live in because of their small square footage except in a few specific situations like you are farming the land, or building a house, or caring for a sick relative.  

It allows you to classify your contacts however you'd like to define them if I remember correctly.I haven't used Highrise since 2014, but another great thing about Highrise is that you can keep track of deals in the system as well and manage a sales pipeline if you wish.