You must have a managing broker to practice real estate.

To have a more flexible schedule and help grow the businessLearning and practicing real estate in whichever form you choose can potentially help "grow" your business.

@Sergey KalinaI wouldn't take medical advice from a friend unless they were a health professional(doctor, nurse, etc).You shouldn't take advice from a friend unless they practice tax or accounting.Regarding the deductions - it really depends on if the house was in service and what activity you are doing(buy and hold or flipping).

I have already started practicing analyzing properties and in the process of investing in a Duplex to utilize the House Hacking Strategy.

In any case my tone is not conveyed well through writing this, I’m not advocating that this is a good practice.

My ultimate aspiration is to use the funds I make from practicing to invest in real estate and achieve financial freedom and thus practice pro bono for people in need.

Out of curiosity, what kind of law do you practice?

Practice analyzing properties that are on the market even if do not intend to use the MLS for your purchase that way you are comfortable analyzing properties and the more times you do the better you get at it.

I found a lot for sale for 35k in an area where the ARV (or in this case the relocation) value is easily 230k.. probably 240k+.  

Hi Alex,If you are looking for a place to relocate your family from the Mid-West or East Coast, I highly recommend Pasadena.