2) is there a max AGI (Adjusted Gross Income) at which this strategy (of using the RE professional status to reduce active income) is no longer worthwhile?

Thanks for the clarification, guys.So, on that note (pun intended), how much more capital intensive are commercial notes versus residential notes?

We can and do make this our full time jobs, so flipping and more labor intensive real estate investing is certainly an option. 

So if you're targeting them specifically, you can adjust your minimum nights accordingly if that's what your looking for.

I see every acquisition as a mandate to try and maximize the highest risk-adjusted returns to partners.

Notes seem to be pretty capital intensive due to the cash purchase requirement.

Our target for all of 2018 was 10 houses...so it seems like we have to adjust our goal.Our Jacksonville Property Manager (@Corey Clarkston from St John's Property Management) is actually the one who brought us the 6 SFR portfolio, and we are so happy to be working with their team to find new deals and manage our current properties. 

A $6,000 adjustment for two extra bedrooms?

In Phoenix, I currently use $3300/unit/year as a starting point for expenses and adjust for variables. 

Costs will be higher initially, but this approach can save you a lot of fees over the life of the plan, and can be much more suitable for time sensitive or transactionally intense investment portfolios.Speak with more than one company of each type and you will learn who really knows what they are doing and provides good service.Best of luck as you learn about this exciting opportunity!