Also, to expand a little further, I provide a qualification sheet during showing.

I don't think listening to podcasts is any sort of qualification, lol - we are just ready to make it happen. 

He is a financing expert and can give you more specific answers to your questions based on your specific qualifications. 

I didn't read this to ensure its accuracy but it certainly looks to be from a credible source. https://www.irs.gov/pub/irs-utl/33-Real%20Estate%2...Cliff Notes:Real Estate Professional Qualification • Material participation in each specific rental • Material participation in separate Real Property Trade or business • 50% rule • 750 hours rule • 5% ownership ruleReal Estate Trade or Business Defined IRC Sec. 469(c)(7)(C) Any Real Property: • Development or redevelopment; • Construction or reconstruction; • Acquisition and/or conversion; • Rental Activity that is not a Passive Activity; • Property management; • Brokerage activities.Example 1: Laura owns 5% or more of a real estate sales office • Works full time as a broker • She owns 3 rental properties and: • She finds the tenants; • Approves tenants and leases; • Approves and oversees repairs & improvements • Net rental losses are $31,000 and her modified AGI is $160,000 before the losses • Deduct the full $31,000 in the current tax yearExample 2: John acquires old homes and contracts 3rd parties to renovate and ready for resale.

Those with insured financing have been subjected to this qualification requirement for a couple of years now.    

This is because the financing will often fall through due to poor up front qualification by the major national lenders.

I just recently learned there is a difference and it has burned a few people looking to buy a first property.pre-qualification is based on the questions asked and information given to the broker/ loan officer usually via a quick phone conversation and is a quick credit check process to show qualification.pre-approval is more in-depth, meaning you sent tax returns and pay statements to them to verify all information you told them over the phone or in person. 

All of this revenue was earned prior to receiving qualification under Tier II of Regulation A, which expanded our offering cap from $20m per year to $50m.

If it's a larger organization, feel free to inquire about their different staff qualifications.2.

While we do have cash saved up, we'd prefer to work on our credit for another year before looking at getting a mortgage or commercial loan to possibly do a fix and flip.If you were us, would you a) use our cash to purchase, fix and flip something older and cheaper outright which seems like a huge undertaking for our first deal, b) use our cash as the downpayment/skin-in for a hard money loan (balloon) while we work on conventional qualifications to refi at a lower rate in 12 months, c) My in-laws are in the process of purchasing a seller-financed home and are interested in "renting-to-own" their place to us.