However, it's important to note that forming an LLC doesn't guarantee full protection, and it's crucial to comply with legal requirements and manage the entity properly.

Once you are comfortable with running real estate, you can consider having one of you leave work and manage the properties full time.

@David Bridgman You may want to check with local mobile home dealerships and other mobile home park managers and/or owners in the area.

The involvement of onsite management, often seen as a potential red flag, can lead to the property failing crucial qualification tests.

Thus, there was little question that the taxpayer materially participated in the management of the LLC. 

Scenario:  I have 3 properties managed by on property manager. 

Knowing how to manage money well is super important for real estate investors.

We're big design enthusiasts, and we're excited to leverage these skills along with our interpersonal and management abilities to build our portfolio.Our passion for design had us initially gunning for short-term rentals, but the strict Canadian by-laws make us hesitant.

He managed the cabin himself for several years as a STR.

For example, we have a client who is in a market where they rent the basement out on a short term basement and self manage.