She recently completed her first full audit by the Texas Department of Savings and Mortgage Lending, and got a very good score.Mindy also has her Real Estate Brokers license.

You would just need to demonstrate under audit that you had the intent to hold for investment purposes but got an offer out-of-the-blue that you could not turn down. 

I have been out of school for 2 years now, own one SFR and have completed one fix n flip.First, I would suggest using your accounting degree to find a job auditing or accounting for an investment company (real estate or not).

Rose, also get Mid America to perform an Energy Audit so your insulation, windows, and appliances earn you some cash back, too!!!

A franchisee type tenant can go boom and bust so you want rental increase every year to extract maximum income otherwise they could last 4 years and then go out leaving you with flat rent.Have it as a REQUIREMENT to provide ongoing audited sales.

The IRS looks at each property individually, but I don't see how someone flipping 5-7 homes a years with no other job income, for multiple years could successfully argue "investment" during an audit.

(CRMC).These are companies that have been audited by the National Association of Residential Property Managers and have demonstrated a high standard for both procedures and customer service.Again, I believe the best way to find a good property manager is to seek a property manager out and has invested in advanced training and education and has attained designations, usually they also have years of experience.

If you are a freshman, you probably do not have a lot of electives yet to take courses in other fields, but you should try to fit them in, or ask if you can audit a class in Business, Real Estate, Accounting or different engineering fields,Engineering is tough, I questioned my dedication to it many times over those 4 years, but it was a great 1st step to a career... and you have to realize that it is only your first step.

@Lance Lvovsky who replied above is an excellent CPA local to you.EA or Enrolled Agent (like myself) - a person trained in taxes and licensed by the IRS to do tax work, specifically to represent his clients in dealings with the IRS, such as IRS audits and collection.

I do everything from inspections, marketing, tech in the homes, vender communications, revenue audits, owner communication, software integration, and more.