The IRS looks at your situation on a year-by-year basis.

Your situation is very familiar with situations I've come across in our Investments business.

I own a two-story duplex where water constantly drips down the siding, even when it hasn't rained for days or weeks.

To go into your questions1.

Has anyone considered creating a customizable fund to scale your fix and flip and BRRR business?

Just have to do your research!

Check with your city/county zoning and planning to make sure it’s zoned for what you want to do.  

I'ved owned this property for 6 months.Am I missing anything here?

Congratulations on your successful investment, Wyatt!

So we are not in agreement.I sent this to my tax accountant https://www.investopedia.com/terms/p/passiveincome.asp.She sent the IRS link to me https://www.irs.gov/pub/irs-pdf/p925.pdfI wonder how your tax accountant treat your private lending interest?