I guess the part I'm not understanding is that it sounds you can combine their time for material participation (which is 500 hours), but not for the 750 hours required for REPS...but 750 > 500, if you meet the 750 hours, you already passed the 500 hours for material participation.Or you can get 500 hours combined material participation, but then one spouse needs an additional 250 hours of "non-material participation" (??)

The other thing to keep in mind is that you will have to keep a supply closer or room with your extra bedding and materials and a checklist for you cleaning person to run when they turn the unit, as well as a smooth process to screen, lease sign, and collect payment from the guest.

If you materially participate and rent for 7 days or less, and don't use it personally, this will be a non-passive activity and losses can be written against active income. 

Like material cost only. 

Tesla's expanding footprint in the area in recent years has made Central Texas a hub for the electric vehicle industry.Examples of the biggest recent projects in the Tesla sphere are: the company itself taking more than 1 million square feet at Kyle/35 Logistics Park; supplier US Farathane Corp. taking an entire 410,000-square-foot building in Georgetown; and Hanwha Advanced Materials LLC building a $100 million, 200,000-square-foot advanced high-tech manufacturing facility near Georgetown.

It takes a long time for properties to be rebuilt due to material and labor constraints, permitting issues, flood maps being redrawn based on which areas actually flooded and which didn’t, etc.

Definitely get multiple quotes to compare, but also check out their previous work, especially for the type of renovations you're doing.For managing renovations, having a detailed plan before you start is a lifesaver—schedule, materials, and budget.

Regarding materials, it's not just the units.

"We are sorry that we cannot continue this insurnace therefore your policy will not be renewed...Material increase in hazard as evidenced by the fact that the residence is not owner occupied as required by our policy".

Typically, any additional income outside of salary is considered.Sometimes if C-corporations or S-corporations hold your rental properties, the court may even decide that the retained earnings are subject to child support calculations.