You can break it out by general RE activities and material participation.

Quote from @Brandon Bell: I've owned a property for four years with a standard fixed-rate mortgage, and now I'm looking to convert it into a rental.

Virtus is a commercial team here that is VERY active. 

I always advise to run a business for 3-6 months without an entity to see if it something you are making money in and something you want to continue doing.Once you have 3-6 months of activity, you have more information to provide to an accountant regarding income so he can provide suggestions on entity type.Best of luck

Quote from @Brendan Jones: For the homes, and or properties that you will use as a primary or a rental property one big thing I look for is infrastructure in the area, extrinsic value (I.e. hospitals in the area, schools, and job market), and the last thing is creature comforts for people (I.e. is a store to get groceries 1 hour away or 2 minutes away).

@James Thompson Transferring property from your in-laws to you can be done through a gift, sale, or trust transfer, each with different tax implications.

If you're active in the market or have any advice, I’d be grateful to learn from your experience!

@Andy PtakLeasing agent at multi-family properties can be entry level.

Are there property managers who specialize in managing housing for section 8 tenants?

I have a w-2 income and own three properties, all long term rentals, that I've had for a few years.