I would just review your state's general practices and make an offer without that being part of the contract to purchase property.

Also, practically nobody in the world has mastered the fundamentals because every time we think we have it nailed down a new situation/crisis happens which shapes our thinking in a new way.

What's the common practice for tenant notification of the sale?

What's the common practice for tenant notification of the sale?

Who knows what the rental property ordinances/bylaws in Burlington, Iowa are, and if they deviate from generally accepted practices?

There isn’t really an issue with you investing and also practicing RE in your home state as along as you abide by the ethics and standards you pledge to uphold when applying for you RE license.

I was practicing running numbers and learning my market, with no intention to buy.

On a side note: I'm a big fan of time blocking, productivity systems, and practice The ONE Thing methodology.My hubby is working towards getting his real estate license by end of year, and our plan was to work together as a husband-wife team in the short-term and long-term.Most of the advice I've received from my broker and other seasoned agents is that I need to consider going full-time, or I'm at risk of washing out or not reaching my income goals.

For example, if I rent a property to my tax practice, that property is considered a trade/business (whether or not it otherwise would have qualified as such) and may be eligible for the deduction.3)Third, they tell us that to determine what is a “trade or business” (I am just going to use the term “business” from now on), we can only look at law under Code Section 162.So what does #3 mean?

@Michael EhmannThis is good in theory but will likely be futile in practice.