I'm about to participate in my first auction in Berks County, PA! 

Just a contributor here participating in the conversation.

I am not a CPA, but I think most CPAs will advise you that claiming material participation when you have a PM is going to be an uphill battle, if not impossible.According to my CPA, most investors that want to take advantage of cost segregations self-manage just for the first year so they can claim material participation, and then hire a PM and switch to passive income starting with year 2. 

Exactly I dont think many posting here realized that many landlords could not collect rent.. and we know many landlords with any kind of debt if they cant collect rent for a year or more ( like what happened in some markets) those folks cratered.. for some reason many of the BP participants think rents are a guaranteed annuity payment :)

Then, ~2/3 to sponsor, ~1/3 to LPTerm Sponsor and LP exit option via buy/sell Targeted holding period typically 3 - 5 years, flexibility for longer hold periodsCovenants Approval on all major decisionsTransfer rights under mortgageRight to retain participation interest if repaid via refinance Cheers!

Anna, you can set up a SDIRA that has checkbook control and owns an LLC where you are a member along with others who want to participate (taxed as a partnership). 

If you want to offset your W2 income with losses from your Airbnb, you must have an average guest stay of 7 days or less and you need to materially participate in the property.

The property would be on my lien.Profit Participation - 75% of net profits2.

Here is how to register: https://denver.narpm.org/event...HB23-1068 Pet Ownership in HousingPASSEDHB23-1095 Prohibited Provisions in Rental Agreements (Class Action Waivers)PASSEDHB23-1099 Portable Screening Report for Residential LeasesSIGNED INTO LAW, EFFECTIVE: 8/6/23HB23-1120 Eviction Protections for Residential TenantsSIGNED INTO LAW, EFFECTIVE: 6/7/23HB23-1186 Remote Participation in Residential EvictionsPASSEDHB23-1254 Habitability of Residential PremisesSIGNED INTO LAW, EFFECTIVE: 5/10/23SB23-148 Illegal Drug Laboratory Property and CertificationPASSEDSB23-184 Protections For Residential TenantsSIGNED INTO LAW, EFFECTIVE: 8/7/23SB23-206 Disclose Radon Information Residential PropertyPASSED

I am attracted to the control and security afforded by notes but also like the idea of syndications and participating in larger multifamily deals which is something that I aim to do on a smaller scale (but a little weary of increased risk and lack of control.)