To have your activity qualify as material participation, you must meet one of the following tests:-Work more than 500 hours in the activity (a married couple can count the involvement of both spouses to meet this test)-Do substantially all the work in the activity-Work more than 100 hours in the activity, and no one else worked more than the taxpayer (including non-owners or employees)-The activity is a significant participation activity and your total time in all significant participation activities exceeds 500 hours-You materially participated in the activity in any five of the prior ten years-You materially participated in a personal service activity for any three prior years-Based on all facts and circumstances, you participate for more than 100 hours in the activity on a regular, continuous or substantial basis during the yearPractically speaking, this means you’re doing the work on your rental properties rather than hiring a property manager.

What web-based solutions are you guys using to keep track of your portfolio?

What web-based solutions are you guys using to keep track of your portfolio?

Based on comps and speaking with realtors we figure I can sell my home and after paying off my mortgage and selling expenses I could net approx 750-900k, depending upon the sale price of course.

This means providing top-notch customer service, keeping the place clean and comfortable, and adding thoughtful little extras.

Based on your opinion, would DFW area also be a great starting point in Texas?

I’m based in Houston, Tx.

I'm obviously bias because I'm in the Chicago area, but I have partners constantly buying properties for ~$150k + ~$60k in Rehab and then ARV of $300k doing Cash Out Refi's based on Long Term Rentals or AirBNB, Flipping the properties, or Wholesaling the deals. 

It sounds like you have equity in your property based on your numbers provided.

Determine your investment criteria based on your objectives, risk tolerance, target market, property type, cash flow needs, and desired returns.Gather a solid team of experts such as real estate agents, lenders, attorneys, contractors, property managers, and accountants to assist you on your real estate journey.