Note that if you are married filing joint, only the spouse who is qualifying for REPS is able to count their hours.Step 4: Apply the quantitative testsPer Section 469(c)(7)(B), in order to qualify for REPS, you must meet both of the tests below:750-Hour Test: If you materially participate in a real property trade or business, you must spend 750+ hours during the tax year.More Than Half Test: You must spend more than half of your personal service hours in the real property trade or business in which you materially participate.Step 5: Material participation in rental activities Just because you qualify for real estate professional status does not mean that your rental activities are automatically considered non-passive.

Perform the same task in each app to ensure a fair comparison.Load a property with pictures and details.Market that property.See what your marketing looks like from the public's perspective.Submit a fake application to see how easy the process is.Run a credit/screening report on yourself.Enter a maintenance request, assign a vendor, and attach a fake invoice.Enter charges to the tenant's ledger.Enter recurring charges and automatic late fees.Sign documents electronically.Run owner reports.After testing a few apps, one should clearly stand out.

Make sure there are no automatic renewals or hidden fees that could catch you off guard.

I think one thing people who do not want to go public is they can shift the story but focus on truth not opinions. 

@Stephen Hood your idea is solid and shows good potential, but here are a few things to consider:Private Lender Terms: Ensure the lender agrees to the 1% origination fee and $2K monthly payments—some may require a higher interest rate or balloon payment at the end.Timeline for Sale: Factor in potential delays with selling your current property or completing renovations on the new one, as these could impact your refinance timeline.Refinance Feasibility: Confirm with lenders that refinancing at $500K is realistic, especially after recent rate increases and appraisal expectations.Exit Plan: Have a backup plan in case the market shifts or repairs take longer than expected, such as extending the private loan or bridging with a HELOC.If you can lock in favorable private loan terms and stay realistic about costs and timelines, this could work well.

when you buy at tax sale don't all the mortgages and liens except IRS automatically fall off ?

We might be shifting to that soon and listing on Zillow. 

I own property and have no children or real persons that I want to inherit my property after death.  I do not want to use a will or trust to designate inheritance after my death.  Instead, I have established a donor a...

After 99 Cents Only filed for bankruptcy in April 2024, 28 stores in Phoenix closed, leaving 632,900 square feet of prime retail space available. The closures arrived at a time when Phoenix's retail market was tight, ...

But here’s the thing: just because someone has an EA or CPA title doesn’t automatically make them a perfect fit for what you need.