I recommend that you build your team with qualified tax and accounting professionals.

I would suggest getting with a tax professional to assist you since there's a lot of variability depending on your specific situation not only on a federal level, but with state reporting as well.

You can also meet other industry professionals like loan officers and real estate agents that can give you market specific real-world advice.

You may want to discuss that as you select your tax professional.

“Real estate professional” status has no effect on this.

Both parties were right–and wrong–simultaneously, and it required a lot of hand holding and collaboration.

Hello, I'm Sadish living in Greensboro, NC and an IT Professional.

Traveling professionals are typically going to use a site like FF or Airbnb.

Or maybe you set yourself up more like a professional property manager, where you earn extra money for placing a tenant and/or a percentage of the rent each month rather than just an hourly rate when you have to jump into action. 

first off if you have to buy a system those are not true private money lenders those are HML ers full stop.private money lenders are folks that you meet personally.. at REIA meetings etc.. other professionals that you may encounter in your day to day that would have invest-able cash. many of these professionals will have IRA solo K profit sharing plans and those are your perfect investor. otherwise quit wasting your time and find the nearest HML that are REAL  ( tons of fakes) their rate will be basically the same as private lenders generally speaking