Be as detailed and specific as possible when mentioning your future plans, current operation/experience level, ongoing projects, etc.

No, you can convert it in a future tax year but not the same year.

I am wanting to expand my business into property and project management as well but how do I contact other investors about partnering and expanding without sounding like I am cold calling?

@Steve DavisDepends on the project and the agreement with the contractor.

My current situation does not support house hacking, but maybe I will be able to try it some time in the future. 

This could include reporting expenses, depreciation, and other relevant information.Filing a tax return allows you to take advantage of any available deductions or credits that could offset other income or reduce your tax liability in future years.

Or millions of worker out there if you give them a project to do?

A friend and I recognized that we both have a passion and desire to pursue rental investing in our future.

He now says he participates in projects "large and small."  

It gives you/the buyer more time to complete the project and obtain traditional financing.