You really have to practice preventive maintenance when trying to ensure a property will cash flow.Knowing the market and helping buyers with ARV potential is a huge step and creates a repeat/return buyer.

If not, even though you are a re pro, losses are passive & deductions are limited.There are 7 scenarios that will qualify as material, and you only need to meet one:*500 hours*Substantially all participation*> 100 hrs and at least 1/2*Significant participation*5/10 years*Personal service activity w participation in last 3 years*Continuous participationTo materially participate, you must be involved in the operations of the activity on a regular, continuous, and substantial basis.Once you pass the pro test, the material participation often comes along for the ride.You can elect to aggregate all rental real estate for purposes of measuring material participation under Sec. 1.469-9(g).Your time spent on all your rental properties (STRs don't qualify) counts as one activity, making it easier to materially participate.In order to make a strong case with your CPA and the IRS you need to document your hours.Best practice is an hours log where you are as specific as possible.

Find Brandon's videos on YouTube for the "four square" method of analyzing homes and practice.

Practice running the numbers.

Using a queen sheets is a very practical solution since the dimensions are close enough, though like you mentioned it will be a bit long on one side.

Update: We ended up backing out of the commercial deal, way too many issues going on and shady practices that we were not comfortable engaging with.Now the question is what to do with the chunk of money left after we pay taxes.

This is where there is a gray area.Many consider wholesaling practicing real estate without a license and there are laws in other states cracking back against it.

This is proof of that in practice.

As you say, the concept is great and true, but the proper application in practice may not be as advertised.

I've had a tenant in my long-term rental unit for 7 years, and they've recently moved out. As I prepare the unit for the next tenant, I'm finding the gas stove cooktop and the inner oven glass particularly challenging...