If I knew the benefits of qualifying as an 'active' real estate professional while my spouse continues her W2 income, I would have benefited immensely - both strategically to build wealth, as well as annually when we file our tax returns.

-I try to keep my expenses consistent, while simultaneously increasing my income (extra work, smarter investments, strategic leveraging via RE)-I try to systematize all my expenses and use my credit card whenever possible to accumulate as many of the perks as possible, while paying off the credit cards quickly to avoid fees-I try to leverage my work whereby its enjoyable and productive, example yankee games to celebrate closings or networking events with top notch food or scenery

Already cash flowing asset with the potential to increase that possibility with a strategic value add approach to the entire building.How did you find this deal and how did you negotiate it?

There are so many facets of it so you really need to formulate a direction and focus.

I would love to hear the thoughts in this group and what you would do in my situation and how you would strategize.