@Christopher ReynoldsIt's exciting to see your enthusiasm for real estate and your vision for financial independence.

I have spent the past 12 months as an independant contractor and wish to finance a project.

I did all of mine several months ago as they are single member LLC;s and I already have to go through fingerprinting, background checks for my NMLS license as well as audited financials for our fund.

You can learn to do this independently or get a rockstar REALTOR to lead the way.

You can learn to do this independently or get a rockstar REALTOR to lead the way.

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.

When it comes to experience I have facilitated my fair share of successful projects, however the point still remains that I did not complete those deals completely independently.

At that point we hired an independent appraiser and the numbers came back good and the hard money lender agreed to use them.  

Since leveraging this tax strategy could save you significantly on taxes if you do qualify you might want to seek personalized advice, that's tough to get in a public forum, to avoid missing out or getting audited and failing audit. ...

After doing an audit on my time and realizing that I spent over 40% of my time shopping for materials, I knew I needed to find a better solution.