To qualify, taxpayers must meet specific criteria demonstrating that they are real estate professionals who materially participate in their rental activities.How to Navigate the Rules:Step 1: Identify your real property trades or businessesHere is a list of activities that are considered to be a real property trade or business:RedevelopmentLeasingConversionConstructionReal property developmentReconstructionOperationRentalBrokerageManagementAcquisitionIf you participate in multiple of these activities, you may be able to combine them making it easier to meet the material participation hour requirements.Step 2: Demonstrate material participation in real property trades or businessesThere are seven tests to determine if you demonstrate material participation.

I assume you’re going to be making all the sales and purchases in cash as you don’t want to get a $1M mortgage and then tell everyone you paid $100k when all the closing documents say otherwise. 

Why are you using rules of thumb and not using the results of the thorough inspection by a great inspector that you are surely using and would be an idiot not to base your numbers on? 

Tenant estoppel letters should be used in the sale or purchase of any tenant-occupied real estate, whether residential or commercial. 

Now if you're just looking to make your credit report look better, that might work but not sure why that would be worthwhile unless you were just looking to borrow more consumer-type debt rather than hard asset notes. 

If you like more details please reach out and I’ll be glad to provide what I know.

Anyone investing in a product new to them is never going to have perfect knowledge going in; extensive knowledge is accumulated over time, and, well, if you wait for perfect knowledge you’ll never invest.  

The bonus content seems like it could be really helpful for anyone looking to flip houses.

Leverage the upcoming meetup to find others that have done what you're looking to do as well as a lender that can give you a personalized playbook to achieve your goals in most effective manner. 

Below are some important things for you to be mindful when you have to file a partnership tax return1) A partnership return generates a form K-1 that each investor will need to complete his / her tax return.Will the accountant be able to complete the tax return by April 5th to give the investor/partner enough time to file his individual return?