Let it play out 

Of course this doesn’t affect income tax owed on my oregon rental income or job income generated in Oregon  one of the most tax effective plays in the US is live and work in SW Washington with No income tax then simply drive across the river to do all your shopping TAX FREE  .. 

I also have a lot of experience in real estate (I used to sell luxury homes in LA and my license is still in good standing although I haven't been active).

I got active in life.

I am a Navy service member, Active Duty, currently stationed in Maryland.  

This house just had a 20% reduction and an increase in activity this weekend.

I really want to turn that active/ordinary rarned income into passive income as soon as I get credit and learn more about rental properties, leases, etc..

I looked this person up again as far as CPA status and they are still listed as active.

of course this is where a developer comes to play .. and since I am a small time one.I can tell you that in markets that are robust.. land is a premium.. if it has to be subdivided and infrastructure built there is a small segment that can do those and have the means to get financing very tough..  

(Assume all outside money is just that, money, and these outside investors won't have any active roles in operating/managing any of the properties.)