Just need to keep it professional.

Just consider the money you put in a contribution (rather than a loan), and the money you take out as a distribution (rather than a repayment).Of course, talk with your tax professional first to make sure there isn't an outside detail I am missing that might change this for your situation.

And being a "real estate professional" does come with tax benefits. 

@Ashish AcharyaIf you want to give me a quote for my tax situation; full time IT professional, 4 rental properties, one primary residence.

The juice usually isn't worth the squeeze in situations like this, and the added professional liability, administrative hassle, and paperwork might not be worth it.And remember - Your broker gets his or her usual cut (based on what your agreement with them says), so it may not be worth your time either.

., but keep the license in some "reduced" status, so I can still possibly reap the benefits of the real estate professional status for real estate investing.

You’ll definitely want to consult your attorney and qualified tax professional before taking action.

If it is not inside their unit or in a common area obstructing there passage you are not interfering with reasonable enjoyment.Only possible exception would net if they are shift workers sleeping during the day.Why do you feel any discount is warranted.

I can sleep peacefully now :) Thanks again!

Not having professional sports is a drawback but that does not matter to many people and the trade offs are worth it for me.Feel free to reply with any feedback or thoughts on the article, demographic trends, and whether or not they have influenced your investing.