Not to mention the various layers of independent contractor relationships that exist not only between yourself and the owner but as well as yourself and the 3rd party vendors you likely lean on.

On a personal note, I was audited by the state and found out that the bank I opened my "trust" accounts with for my brokerage with did not actually open true "trust accounts" for me.

It was very surprising how ABC’s appraisal ($102,000) was so much higher than our bank’s independent appraisal ($60,000).

Yeah, here is the passive activity Audit Techniques Guide which is interestingly not available on the IRS website any longer.

Passed two IRS audits, an investigation by the Ohio division of real estate due to a scammer tenant that filed a complaint.

So since I got a RE license at 18 and my Brokers at 20 and have worked as an independent broker all these years..

I put that in some of the other threads with this same topic and it really confuses me when people don't understand it.Also, the cost of being totally independent.

Super easy.Eastern CT Savings Bank, CTFairway Independent mortgage corporation- uses blockchain to close in as few as 5 days.

I am a tax attorney and i still am confused, and I am willing to bet that most people will be putting it on schedul e, not paying se tax, not calling it passive, and deducting losses against w2 income, and playing roulette with audits.  

Am I independently wealthy and very forgetful?