Chase told me that they will focus mainly on the property's financial and borrower's net worth and liquidity.

You must work at least 750 hours per year in a qualified RE business.So most people who have high-earning W-2 jobs outside of real estate won't qualify.But the unique thing about RE pro status is that even if you don’t qualify but your spouse does, you can both file jointly and claim the losses from your RE investments to offset your other active income together.It's an incredibly powerful benefit if you do meet the criteria.

If you can give a bit more info about the property, you can get more focused recommendations.

Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560 (almost 30% probability of default), little to no good tradelines, lots of collections & chargeoffs, recent evictions.

Instead of stressing over timing it perfectly, focus on making sure the deal still works even if rates shift.Since you’re buying in Norfolk, check if lenders there offer any investor-friendly incentives.

Your focus is retirement.7.  

Right now, I’m focused on building a buyer’s list and generating leads.

Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560 (almost 30% probability of default), little to no good tradelines, lots of collections & chargeoffs, recent evictions.

And are there any other skills I should focus on and develop?

There are likely "dental" firms or "restaurant" focused, or "med office"... the list goes on.