I'm more concerned about appreciation and equity so I'm willing to trade the cash flow for it, but I don't want to be in a situation where I'm barely breaking even and the stress that comes with it.Looking for ideas how I can tap into that equity to grow my portfolio but still getting some kind of cash flow to be able to make the monthly payments1.

I would tend to agree with the other CPAs typically.The 500-hour test is one of seven material participation tests used by the IRS to determine if a taxpayer is actively involved in a trade, business, or rental activity. 

If youre saying condos are trading at $220 a square foot....Id be planning on a value of $110 per square foot on a co-op.

A global trade war is seen as the biggest observable risk for 2025, followed by a tech stock plunge and concerns over inflation and bond yields14.

If you ever want to connect and trade thoughts on your goals, I'd love to do that. 

But you trade that for interest rate risk. 

Quote from @Paul Gupta: Hi, in California, For jobs requiring a license, there was CSLB (contractor state licensing board) which would give either a General Contractor license, or specialty licenses by trade (~60 specialties such as concrete, welding tile, ) https://www.cslb.ca.gov/about_us/library/licensing_classific...My Q: does Maryland and DC area have similar requirements? 

When I was 22 I had to move from my home town to Las Vegas in pursuit of HVAC trade school.

Depending on your credit score in the US and credit trade line history, you could put as low as 25% down.

Sure, they may be able to grow to a very moderate size,  add a few units, or trade up to a larger investment, but as for real scalability: NO.Why?