Your title, “new to real estate” may offer a key.  

Based upon this fact pattern, do we qualify for Real Estate Professional status?

I'm house hacking in North Raleigh - happy to hop on a call and chat real estate.

Hi Karla from Montreal, Canada-You ask an interesting question.Should your first real estate investment be new construction, since you and your partner have construction management experience, or flipping an existing home as you originally thought you would?

I’m new to real estate investing and am in the process of trying to acquire my first property.  

One of the other factors that kept me from pulling the trigger is that the city has never passed any real STR regulation.

We pride ourselves in keeping the forums positive, helpful, and focused on real estate (please, no politics, religion, etc.).

If you're intending to invest in a particular niche as a real estate investor, it's best to study that niche including the local supply and demand in your area before taking action. 

But the reality is that unless you're a real estate professional or your property is a short term rental you won't benefit much each year. 

Learn all about real estate investing.