My wife is a super busy realtor so I took over those duties years ago..

And based on my business, and from what I am seeing with market activity, it is still very much a sellers market for those type of properties so many investors don't seem concerned about these proposed regulations.  

The market is booming in both the business and real estate sectors.

So long as the home you own is not your primary place of business, you can rent it out for up to 14 days and not report that income on your individual tax return.

It has turned into a business for me.

To qualify as a real estate professional for tax purposes, you don’t have to own or work for real estate businesses or have a real estate license.

That might be good for your company, but not great for the owner or for agents who you want referral business from.I want to know that you will take golden care of my clients property. 

Contractor management is one of the most challenging parts of the business.

Just last night I was flipping through my business journal (my personal journal but I keep only business thoughts in it).

Not necessary, but easy/cheap enough to do and helps me think of the business as more separate.