A landlord was murdered here last weekend. 

It doesn't matter how "passive" or "active" you are in completing these activities, they'll be taxed as I indicated in the previous two sentences.Now, the number of hours of active investing DOES apply to your status as a "real estate professional." 

My fiance and I live in it most of the time but try to rent it out on weekends we are out of town.

I ride my bike down different streets every weekend and write down the addresses of distressed homes. we run the titles and see if theres any juicy info. even if I don't get anyt great info back its the process of thinking this way that will hep in the end. if your hungry enough you will find a way. when I was stuck I simply went outside and looked at all the houses in my neighborhood . started paying attention to what was selling and what was sitting.

Going forward, I don't intend on being an active agent buying & selling homes, so my question is, short of giving up my license, is there any option to not pay all the quarterly board dues & broker office fees, E&O, etc., but keep the license in some "reduced" status, so I can still possibly reap the benefits of the real estate professional status for real estate investing.

I want to be an active part of the boots on the ground team until I know that I am working with the right people.

Just bought it going to read up this weekend.

That's after hours or weekend family time....All @Mitch Messer and I are getting at is that it's important to consider the whole cost including your time.

So I would suggest getting in touch with as many active MUF brokers that you can connect with just so you get the off market properties.

One for passive income and one for the active side of things.