Just starting my journey into real estate investing and looking forward to meeting and catching up with like minded people.

This is not a "real estate rental income" activity as defined by the IRS, so whether you are a REP or not, you can take this benefit.All of this is separate from a QOZ Investment, which would require you to first recognize a capital gain from another source (say a stock sale), invest that gain, hold it in a Corporate or Partnership structure (likely partnership), meeting the substantial improvement qualifications of being a QOZB, and then yes, you get to avoid the depreciation recapture at the end of the 10 year hold period, at least for the portion of your investment attributable to the original gain that you invested in the project. 

I file my taxes in Florida and am considering setting up an Investment LLC, a Property Management LLC, and possibly another LLC for short-term and mid-term rentals.

The area by the race track has definitely seen some rapid growth since NASCAR has invested hundreds of millions into that area.

Please please be very careful at anyone you will be throwing more than about $200 at to learn from because most of these gurus are just frauds.

How bad an idea is building for your first investment property? 

I've accumulated a bit of capital and I'm trying to figure out the best way to appreciate on it; and real estate always struck me as a good option—a true classic.I'm from Europe, but I don't really feel location tied in terms of investments—I wonder actually, do many of you do business internationally?

Royal Legal came to us as highly regarded, but given the after-sales care, we'd give it 2 out of 5.

From years of investing in Florida I have often heard that they are very difficult to work with when you need to enter a claim.

Welcome to BiggerPockets Sydney and best of luck investing!