I've heard being classified as a "real estate professional" (ie 750 hour test) will avoid cap gains tax.

A few things. . . in order to advertise your services in our classifieds, you must have a minimum of 10 posts on the forum.

Take out a classified in their local paper.Go to Chicago, Atlanta, Dallas, Houston, Jacksonville, Orlando, Tampa, Miami, etc, etc.

Write ads for approval of licensee and Principal Broker and place classified advertising;8.

I found my first through the Thrifty Nickel (cheap classifieds).

Signs, an MLS listing, classifieds, fsbo sites, all of the above?

They aren't illegal, but they come with numerous very specific and strenuous parameters to keep from being classified as an executory contract (contract for deed) in Texas, and as an executory contract, be liable for some extreme penalties (up to $250 per day liability from the day of sale).Now you can do 1 lease option per year and not have to worry about being liable for more than $100 per infraction, which at the most would be about $1,000.

But they showed me how to not only classify myself as a real estate professional but how to track my time.

I am debating whether to go back and pull them all off.I am checking with code reviewers to get some clarity on these USB piggy back outlets if they are classified as "OTHER outlets".Lesson learned to check code BEFORE or LATER.Of course you can also do this without a screw driver.

Rent is classified as non-interest income, specifically under the "Additional Noninterest Income" heading.