As I continue to gain more knowledge, I am intrigued by the opportunities that real estate investing can afford while on active duty. 

Day traders are not exempt unless they elect mark-to-market (MTM) accounting, which eliminates wash sale tracking but taxes gains as ordinary income.To manage taxes, track trades closely, avoid overlapping purchases, or consider MTM election if trading actively.

Real estate is basically an income producing and or capital gain producing investment.  

And if you convert it to a rental you’ll be facing a $200k taxable gain. 

His whole selling point is teaching people how to generate enough passive income to quit their jobs.

I'm a newbie tooSelf education through books is a conversation between the author (mentor) and you.You'll gain knowledge, connections etc but it takes timeAttending meetups, listening to Youtube videos on subject matter further broadens knowledge base

I would like to start generating some passive-income and start with some residential properties in my initial portfolio.   

So the initial appraisal for the refinance was good at the time, but now the As-Is is not gaining traction with buyers.

Beachfront or properties near attractions tend to perform best.Mid-Term Rentals (MTRs): These are gaining traction, especially with traveling nurses and remote workers.

I think there will be a market for it and you will gain some market share, but I don't think there will be tons of profits coming in.