please help

You won't run into too many with the quality housing, but there might be a few good Sec 8 homes that you get a good deal on and you want to be prepared.Otherwise, pay special attention to the finishes you use as the quality of finishes can leverage an extra 10-20k in appraised value which can get you the financing/refi that you need.Happy to connect and help where I can!

This is helpful. 

I'm not sure how accurate this is but any help/articles/info would be greatly appreciated. 

There are two requirements to claim REP status1) 750 Hours2) You spend more time on real estate than other activities such as your W-2 Job or BusinessYou want to work with a tax professional who will be able to advise you on what hours count and what hours do not count.Furthermore, the CPA may have a nice worksheet that you can use to help you document your hours.Best of luck!

Hope that helped and if I made any errors, the comments will reveal.

Whether you’re just starting out or you’re a seasoned investor, BiggerPockets has a ton of resources to help you along the way.

All of which nothing will help him because the loan is still in his name. 

Any other questions or help with a loan, feel free to Dm or email me!

These can help you build capital while gaining valuable experience.