In order to put a property under contract I need to provide proof of funds I know that I can get that from a hard money lender but I don’t meet there criteria for a loan approval what should I do?

This is super helpful to hear the contractor point of view. 

If you are not Materially Participating, the loss will be reported on Form 8582 and like be classified as "Unallowed".The ordinary loss from Schedule E cannot offset the Schedule D capital gains. 

Hey @Joy Daniels, I read everything I can all the time.I read a few blogs that go over products and some design.

Yelp is a good source because it lets you read reviews of actual customers.

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My wife works for Ferguson, and I know many contractors, so I can get a lot of materials at cost.

Quote from @Noah Wright: Absolutely, happy to help --Thanks!

This seems unrealistically low for a 40 unit property.

This will clarify and reinforce what you are reading.