This is where the IRS is starting to crack down on what they deem gaming the system by self-determined real estate professionals.There are several requirements for material participation, and satisfaction of any one test will allow you to be considered materially participating.

the problem i am having is getting my rehab numbers in line. i feel other investors are doing rentals or doing some/all the work themselves and/or not pulling permits. i should also mention, i do not need to flip. i can live off the returns i get in my bond/stock portfolio (w/ a lot less taxes paid). however, i like to flip 1x/year to keep me from getting bored and get that satisfaction from "working" (i retired 4 years ago). and no, i am not interested in doing rentals. :)

Again, you need to be persistent, use agents on BP, and be patient.

Be patient and look at our failures as just another lesson on your stairway to financial freedom.

Hi @Matt Michaels - For the Cook County area, be ware that evictions can take a long time. 2-3 months for court and 2-3 months for waiting patiently for the sheriff to do their job.

Seriously great job with regards to being proactive and patient to find this opportunity.

The main issue I have with your proposal is: you're STILL unproven (to my satisfaction).

I'm in a similar spot (a bit further behind) where I know in order to scale I'd either need to sell of some of my existing portfolio, find a money partner, or be patient and work on using that cash flow to save towards the next down payment, keeping my ear to the streets for any good opportunities I might be able to jump on in the meantime.

I know you will do well if you are patient and learn as much as you can.

OR should I be patient and wait for multi-family propertyThanks for your comments