I love that you have found passion in REI and have laid down a path to success with your three approaches.Of the 3 activities you are in, do you prefer one over the others? 

Also the expenses should be reported to the business activity (the property) they legally are generated from; not necessarily the entity they are paid through. 

I only recently became licensed, so I would have a long way to go in order to comply with the 2-year experience requirement, but I have been an active investor for 5 years so I am wondering if I would fall within the 3 year exemption, below:- Have at least two years of experience as a licensed real estate salesperson or at least three years of experience in the general real estate field or a combination of both- Meet the minimum points required for the experience type (e.g., buying and selling your own property, managing property owned by your employer)Thanks in advance! 

I’m actively working on agent outreach and direct-to-seller approaches and would love to collaborate or learn more about your investing criteria.This community has been such a tremendous resource for me, and I’m eager to give back by helping others find great opportunities in Columbus.

I presume your intention is to be an active investor who owns physical real estate and not someone who invests passively.

Also, it can avoid filing an amendment.Another great point on eligibility- SEP IRAs require net self-employment income from activities like 1099 contract work, real estate sales, wholesaling, or other self-employment business income.Passive income as you have highlighted, does not qualify. 

Hi Robert, in terms of the work that could be done easily I suggest activities such as painting, flooring if you have the proper tools, and tiling.

Quote from @Nicole Laba: I work with investors in Chicago who are actively buying off-market properties, and Ive noticed that everyone has a different approach when it comes to sourcing deals.

However, if you made the property available for rent in 2024—meaning you actively advertised it, listed it, or had it ready for tenants—you may be able to deduct certain expenses like mortgage interest, property taxes, maintenance, and depreciation for that period.

.: HiRepairs were going to be paid for before closing, as the seller having some other time sensitive activities needing to be met, my agent and I decided to grant a seller credit to the buyer for these repairs.