If you use a bridge loan (20% down) to acquire the property those are typically 12 month terms with extensions possible w/ no prepay or early exit fees (hint -  refi when work is complete, tenants in place).

I started out on $30,000 homes...imagine finding someone to lend on those - and here's a hint: NOBODY wanted to lend on them. 

@Mark S.In my 20+ years of working exclusively with investors and representing clients before the IRS, I have never seen the IRS raising an issue about 1099s for Schedule E landlords - despite the fact that the form itself has a specific checkbox.Also, there were proposed rules a few years ago that specifically required 1099s from landlords - which sort of hints that the IRS did not consider them mandatory without the new rules.

Here are some hints as to whether it's a business or not:1. 

I think if I were in a slower market, owned in complicated entities or only had one or two I would be a lot less of a target and probably wonder why all these investors are so upset (hint, its because they have something that everyone else wants) You may be reading this as "smug" but my emotion is "annoyed." 

We could spend hours on this subject really so I'll give some hints here:1.

Also, if you're planning to passively invest in NNN properties as you hinted at, you won't be able to offset your income, either.We really need to start with your overall situation and strategy before "calculating" something.

If they hint at doing it, pursue a fraud charge against them.

Appreciate the hint Joshua.

Thanks for the homework @Hattie Dizmond , any hints would be welcome :)