The geo report classifies it as “potentially active” and minor.

The Wall Street Journal/Realtor.com Winter 2023 Emerging Housing Markets Index put the market as the #1 emerging market in America, classifying it as a hot market. https://www.ibrc.indiana.edu/ibr/2023/outlook/lafayette.htmlI've worked with a lot of investors who have found success investing in smaller markets throughout the state.

I notice on some sites like Redfin, Zillow and others they are sometimes classified as multifamily homes.

I would  not classify as a killer deal based on my personal experience. 

I'm wondering if my participation in the home building company would meet the criteria for me to be classified as a REP, and if so would I be able to use some of the multi-family losses against all income?

-You Must Disclose Your Relationship with any Company, Website, Guru, or Other Entity that You Comment About-No Advertising, Sponsored Posts, or Promotions Outside the Classifieds ForumI would recommend reviewing our Rules and Regulations here for the complete breakdown, and encourage you to reach out to me or any members of our Moderation team for questions on a specific topic!

Do you see the problem in trying to classify cities & SFR areas?

Thanks,Syed Ahmed Post this in the Classifieds and they can send their deals to you there.

They can be  classified as ordinary income/loss or capital gain. 

Post this in the Classifieds section and Akron contractors can reach out to you.