The IRS uses material participation tests to determine if you are actively involved in an activity.

How did you find this deal and how did you negotiate it?

I don't use a PM, but 10% seems reasonable to budget because a I think you can probably find someone for maybe 8% and then you factor in any additional fee for tenant placement.

What’s the most relevant real estate news you have read or heard in the last thirty days?

@Michael CliffordRecommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.Check out NARPM.com, BP’s Property Manager Finder (BiggerPockets: The Real Estate Investing Social Network), etc.Also, encourage you to learn from the mistakes of others - by reading posts here on BiggerPockets about owners not having their expectations met by their current Property Management Company.

Dear Community/Future Friends,

I hope you’re doing well. I’m looking to purchase a duplex in Charlotte, with one unit being turn-key and the other in need of repairs. I believe I can utilize a 203(k) loan for the r...

Be ready for a huge amount of information at your finger tips.

It provided us with valuable insights into STRs as we considered whether this was a real estate investment strategy we wanted to pursue.

You run the risk of the IRS classifying the property as 'personal use' if you rent the property for a lot less than FMV.

Do you have any tips or resources recommended for getting up and running for a newbie landlord for just a room rental?