If you also have an unallowed loss from these activities from an earlier year when you didn’t qualify, see Treatment of former passive activities under Passive Activities, earlier.Qualifications.You qualified as a real estate professional for the year if you met both of the following requirements.More than half of the personal services you performed in all trades or businesses during the tax year were performed in real property trades or businesses in which you materially participated.You performed more than 750 hours of services during the tax year in real property trades or businesses in which you materially participated.Don’t count personal services you performed as an employee in real property trades or businesses unless you were a 5% owner of your employer.

This analysis is taking into account how the property will perform once I have moved out and filled the empty unit. 

EIDL funds cannot be used for physical repairs, expansion of physical facilities, acquisition of fixed assets, bonuses, owner distributions (non-performance related) or refinancing existing debt." 

As I understand it, part of the BRRR strategy is that the rehab you perform permits you to raise the rent. 

That way, you can see how the property performed during the last major downturn.

No offense, but it sounds like there is a lot of learning that needs to happen, plus MF is a team sport. 

I recently had a colleague send me the Multifamily and Commercial Real Estate Performance Metrics report by Moody's Analytics for the first quarter of 2020 (dated May 14, 2020).

Hi, I am currently looking to perform a BRRRR in the Baltimore area.

To align yourself more with your investors, I recommend doing a performance based metric approach when taking into account the fees (Other than Acquisition Fee) that is paid to by the sponsor.For Property Management Companies, it astounds me that so many GPs believe that once they get a deal over the closing hurdle, they can relax and feel like everything will go smoothly because the Property Management Company managing the asset WRONG!!!!!

And frankly, my “first” deal isn’t performing well.