I almost typed "independently" but there is a nuance stopping me from that, the very issue we're discussing.If the two of you do not have other STRs, as seems to be the case, you only have this one STR to draw the required hours from. 3 material participation tests to try:1.

I also used my accumulated experience here to start a remodeling company, where I helped local homeowners with their projects What made you interested in investing in this type of deal?

I also serve in the Georgia National Guard so I have access to the VA loan.

Previously, that 2.5% could have served as a powerful negotiating chip, either to bolster your offer or to pocket as a credit.

Even though we are looking for some type of "float" to the other property with enough cushion we are confident we can sell our NM property to fully pay the loan back, we do expect to do other real estate deals and to also move to the lending side as well.

What type of property? 

You also have to deal with different personality types that run the HOA. 

I've been a land broker for fifteen years, and for the smaller pieces I work on, the buyers are extremely random and come out of the woodwork, needle in the haystack types. 

Also make sure everyone you interact with knows you buy houses and what type of property you are looking for.

Research any governmental required benefits such as particular types of insurance that may be required when you have employees.