If old equipmEnt you need to add $xx,xxx capex costs for the next theee years while you clean things up.  

15 years is a long time where something in life can happen.

I do rehabs in San Diego where my purchase price is usually from 900k to 1.3 million and I try to make 20% of the purchase price per deal and try to do 5-6 deals per year (if I can find them which is becoming harder).

I'm in a situation where i'm newly self employed (1.5 years) so dont have enough tax records to qualify for FHA lending. 

With Old Brooklyn being the most desirable and having the best chance at future appreciation. 

Under the IRS rules, a person  qualifies as a real estate professional if: (1) more than one-half of the personal services the taxpayer performs in trades or businesses during the tax year are in real property trades or businesses in which the taxpayer materially participates, AND.....(2) hours spent providing personal services in real property trades or businesses in which the taxpayer materially participates total more than 750 during the tax year.Like @Greg Scott and @Russell Brazil mentioned above, I don't believe that you would qualify as a REPS, but if you are going to try it, make sure you document it very well (i.e. with some kind of proof, like time cards, mileage forms, and/or receipts, etc.) so that just in case you do get audited, you at least have something to provide to the IRS agent. 

But then again I’m 200 years old. 

Back on Bigger Pockets after a few years away.

Hi all,I have 5 units and will have the ability over the next couple years to scale some.One thing that is holding me back is the time commitment on maintenance between little issues that wouldnt really make sense for a handyman/contractor to do and probably wouldnt take the job anyway to renos/painting/etc between tenants and everything in between.

I pick up rentals all the time with 15- 20% net per year income, based on cash purchases.