Otherwise, if you already bought the property in your name and use QCD to transfer to LLC it's easy to track.3) Getting properties off your 1040 tax return: once you accumulate enough real estate, for various reasons you may not want the proeprties to appear on your Schedule E.

The reality is real estate isn’t just about appreciation and cash flow—it’s also about survival when things go south.Many new investors operate on razor-thin margins, believing that rental income will always cover their expenses.

If someone has Real Estate Professional Status their rentals are non-passive. 

Since then my wife and I have been getting calls from people about wanting to buy this house.

Sometimes people order subscriptions for data, information, services and later decide not to renew.

I’m in the learning phase of my real estate investing journey.  

Considering that there are people living there already, it has a potential tenant (of course I understand the potential pitfalls there as well). 

Any recommendations on the most efficient way to track your time when classified as a real estate professional?

Is real estate wholesaling a realistic way to start up my real estate journey, and if so, how can I get started in this field?""

Why don't you share a bit more about where you are in the process, what you know about investing in real estate, what your goals are - short and long-term, and tell us a bit more about why you are asking your question here on BP?