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! 

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.

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.

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.

All real estate activities you engage in ad a licensee are subject to your broker supervision, and fall under the regulatory rules of your state's real estate commission or department of licensure.

You have to work with someone that is experienced and very active in the field.

Are you actively investing or have an active portfolio?

The worst thing is to pay for a service where you don't get a benefit.If you have STR's and actively manage them, then there is a good chance that you can treat the propreties as active instead of passive which will allow you to offset the losses with other forms of income such as wages, interest, dividends, gains, etc.