For most it's why there on program in first place, ENTITLEMENT. 

Start-up costs are also deductible but are amortized over 15 years with a limit of 5k.Start-up costs have strict rules and your case might not be the same as this one.Case Summary:Timeline line of eventsStarted investigating property: FebPut first contract (canceled): MayBought first property: December 30thWhether a taxpayer is engaged in a trade or business is determined using a facts and circumstances test under which courts have focused on the following three factors that indicate the existence of a trade or business:Whether the taxpayer undertook the activity intending to earn a profit;Whether the taxpayer is regularly and actively involved in the activity; andWhether the taxpayer's activity has actually commenced.On the basis investor testimony, we may assume that he undertook this activity to make a profit and that he regularly and actively engaged in it.

However, short of my stock portfolio, which I don’t want to touch as it does well too, I don’t have the cash to buy my first deal.

@Eric McginnI’ve had this same problem at my first three family.

Wait until Harris introduces the 25k first time buyers assistance program. 

Local grants and first-time homebuyer programs can help minimize upfront costs.

How do people who acquire and manage STR's track the time for their Active Material Participation activities? 

Hey Sharad, be happy to chat over the phone when you have time. 

I'm planning to buy my first rental property.

Your first step is to speak to your CPA and then to your attorney.