My wife will be materially participating as the REP for this property btw.

You referred to the Real Estate Professional Status (REPS).

I build this rep for myself not because I am good at it, but because I help people understand how it works.Do the same, and you too shall become the expert in your space.Now you have a credible website, and you have polished social media accounts.Look into facebook ads, PPC, tiktok youtube, and SEOThere is where you start and this is the ONLY way to do it reliably with predictable success without having to resort to strategies with less than a 0.1% success rate.The result?

That is the point of acting as a licensed agent to begin with.The job of these promotional companies is to be transparent and make sure investors know they are not impartial.  

However, if you are looking for someone to rep you in this search, the "top" broker in a market may mean something else to you. 

I don't qualify for REP status so I will be taking normal depreciation. 1.

2) If I do qualify as a REP, and this is my business, does this mean I need to file a Schedule C now, and pay income and self employment taxes?

Get some reps in. 

I'm assuming you are hiring a builder which is why I put that in the price. if you are general contracting it yourself you could hire an owners rep for maybe a flat 20k and drive the cost down by 50k and get it just to a lucky two bedroom, 1 bath per side.

Originally posted by @Jay Hinrichs:Originally posted by @Douglas Spence:Two different ALE reps have contacted me in the last couple of days through my Zillow ad interested in my property.