Yes, with a W2 job, it's next to impossible.But I'm wondering how someone who doesn't get a W2 income, can be classified as a RE professional if the property is out of sate and is managed by a local property manager?

For newly constructed, purchased or renovated properties and also retroactive generally over the last 10 years, building components are properly classified into individual units of property and accurate recovery periods for computing depreciation deductions.

3, cost segs are for assets purchased during a lump sum transaction like your original purchase, anything after your initial property purchase can be classified properly as an asset or expense. 

Two people in foreclosure, 200000 people in foreclosure, doesn't mean they are motivated to sell their house just because they are in foreclosure.The whole premise of lists , or classifying and labeling people/"motivated sellers", based on their situation, is completely wrong.If dealing with a foreclosure increases your chances of motivation, how come you need to send 1000 letters to the foreclosure list to get one deal?

Post this in the Classifieds and lenders will reach out to you.

While this may exempt it from being classified as a rental activity, active participation remains a requirement, necessitating compliance with three tests: spending 500 hours on the property, dedicating at least 100 hours (and more than any other participant), and performing all the necessary work needed.Additionally, long-term viability and consideration of depreciation recapture are important concerns.

You want your accountant (tax preparer and/or bookkeeper) to understand how to classify your business items - fundamentally, there are just 5 categories of entries (asset, liability, equity, income, expense) and the transaction is booked as a debit or credit to the appropriate category.

Incorporating technology into the process increases efficiency and precision and allows for deeper insight.Prior to implementing the new technology, a cost segregation study would require professionals to spend much time going over the architectural blueprints and conducting extremely thorough site visits in order to be able to classify the assets into the correct category.

My spouse could be an employee (form W-2), a parter (form 1065), or we could classify it as a "qualified joint venture" where we file two separate Schedule C's for the same business.  

Income from investment activities, such as rental income from real estate, is not business income, it is classified as investment income (rents and royalties), and therefore sheltering that income via a 401k is not possible.