Specifically, I would encourage you to continue to seek local opportunities for equity growth as well as seeking out-of-state or upstate opportunities for cash-flow (i.e.

Honestly, I never fully understood what they meant—until recently.I’ve been diving into some larger-scale real estate projects, specifically in commercial properties and multifamily development.

Speak with a real estate attorney about the legalities of wholesaling real estate in your specific area, the internet isn't the place to get legal advice.

Very neighborhood specific. 

@Julie Doke: Industry specific software speaks to you and you can easily relate it to your day to day process.

Proportional leverage (like 27% LTV) isn’t specifically required, but if you don’t reinvest the full amount or fail to replace debt, the difference will be taxed as boot.

Are you looking in a specific city/market?

May I ask why you are specifically looking for smaller deals? 

CPAs often advise against pursuing this designation unless the time commitment and documentation are robust, as failing to qualify can result in IRS audits or penalties.The 500-hour rule pertains to material participation in specific real estate activities or businesses.

Let me know if you have specific questions and good luck in your search.