Additionally feel free to send me a DM once you identify a property and we can crunch some numbers. 

You will have to pay self employment taxes etc.

I also look at capital appreciation, tax savings, cash flow and cash flow appreciation.Where you invest, investment support structure for each property, and additional factors important to your individual decisions all make a difference as well. 

I have long thought that the NAR as well as State and Local Boards and MLS’s that I have been a member of were bureaucratic cash grabs that existed solely to employ those among us that were not talented enough to actually sell real estate.

The idea of the BRRRR strategy is to force appreciate the property so that when you refinance you can pull out your initial investment (or as much as you can) or additional cash, if the appraisal is high enough.

I looked at nearby comps and realized that I could easily recover my investment if I were to add an additional conforming bedroom and bathroom!

In 2023, I did 18 transactions(Top 500 of ~15,000 agents), and manage 13 rental properties for other individuals.As an Individual, I also own 5 additional rental properties that I also self manage.The reason I would like REPS is because Ive got about 200k in passive losses(100k just in 2023 as I fully remodeled one of the rentals and partial reno of another) I would like to apply towards our household W2 income(600k) Overall, I feel like I could definitely qualify but I definitely lack detailed time log of all activities.

In addition, get copies of the tenant leases or even expired leases if the tenants are month-to-month as those terms carry over.

I made it clear to my employer 4 years ago when I started REI that the real estate came first and if I had to take an emergency call I would.

If, for example, a taxpayer spends one week while at a destination on activities which are directly related to his trade or business and subsequently spends an additional five weeks for vacation or other personal activities, the trip will be considered primarily personal in nature in the absence of a clear showing to the contrary.