The remaining expenses carryover to the future as a Passive Activity Loss (PAL).Real Estate ProfessionalTo be a real estate professional, an individual must spend the majority of his or her time in real property businesses:• Development or redevelopment• Construction or reconstruction• Acquisition or conversion• Rental• Management or operation• Leasing• BrokerageThe taxpayer must meet each of the following two time requirements:• More than 50 percent of his/her time working in real property businesses; AND,• More than 750 hours of service during the year.One spouse alone must meet both tests.

Obviously, if I'm lifting out 9x9 tile built before the 80's (which I'd never do), I'm going to test for asbestos. realize some of these items are regionally based but thought I'd throw it out there. if so, do you pickup a kit yourself at HD, etc or is it farmed out to an outside contractor?

Here they are testing the buyers with new prices at higher levels than before.

But I would use this test, Steve Babiak.

"Sorry we decided to go another direction" I usually put a test in the Craigslist ad as well just to sift through someone I wouldn't want to work with anyway.

Can you imagine the out come for a Realtor and Broker for disclosing client information.....does that even pass a sniff test????

If it doesn't pass this first test then you want to consider other alternatives.

I installed the furnace myself and ran brand new black pipe to the furnace and did a pressure test myself.

I found a few websites that claim to offer it but I am not sure if they are just offering prep for the FL test or can you truly get your license online?

A $1M umbrella costs $300-500 per year, that is a lot cheaper, easier and more proven than elaborate equity stripping schemes that will probably not pass the smell test if dissected by a court.