There are three main requirements for REPS: 1) 750 hour rule 2) Greater than half of professional time rule3) Material participationHere’s a great article that walks through the necessities for your spouse to obtain REPS status.Do you have questions on the ways to benefit from a cost segregation study without personally obtaining REPS status?

I am new to this and I also feel like I’m being held back due to being worried I’m making a wrong choice maybe because I’ve never purchased a property before… idk but would love any input!

Feel free to connect with me directly and I would be happy to share their contact information for 2nd liens, not first. 

How would you fund this if you are working with less than 20k personal funds.

If you have any further questions or need any assistance please feel free to reach out to me directly!

when partnering with people on a Joint Venture deal make sure to thoroughly layout all aspects of the companies operations and ensure that a clear understanding is made as to who will oversee what. taking the time to find the right partners can go a long way when the going gets tough or feelings get hurt. initially the deal involved partnering with a hands off venture capitol group but luckily an owner of a nearby carwash offered to go in on the deal instead and provided his industry expertiseDid you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

WHEN I LOOK AT ALL THE YOUTUBE VIDEOS AND TALK TO CONTRACTORS THEY ALL SAY PRETTY MUCH THE SAME THING, THEY ARE VERY SIMPLE TO ASSEMBLE WITH LIKE 5 PERSON CREW, ONLY TAKES MAYBE 15 DAYS.

After 8 years with this property manager I do feel as if I have more experience in asking about the more important things. 

I live In New York so I feel the competition would kill since I’m new to this whole thing.

Your draft person should know about this, but make sure you check this.