This is a strong audit topic for the IRS.If you are having a management company handle the property, you are not going to be materially participating.From the IRS audit manual: A trade or businesses is a passive activity if the taxpayer does not materially participate.

A 1099 is merely a requirement from the IRS and is a device to track those tax losses back to the taxpayer.

Shorter term deals with high (ordinary income) tax make the IRA a good vehicle.

If there is any crack in the tiles or the walls, anything that looks out of the ordinary, focus in on it. 

It would include exterior monitoring with photos of anything out of the ordinary.

He wrote another great book called Ordinary People-Extraordinary Wealth.

Even if you are doing business in your own name you still get to deduct expenses the are "ordinary and necessary" for your business.I usually like to mention why I picked their property.

It's possible to have a TIN - Taxpayer Identification Number - issued by the IRS.

The Los Angeles area 1031 property closed escrow in July 2021 and a Qualified Intermediary recommended that a CPA be consulted to examine the taxpayer situation and the risk in selling and replacing the 1031 before the period of 2 years has passed.Thank you for your input and info on the CPA that could fit the billH.A. 

According to Reuters:New York's attorney general sued Donald Trump for $40 million Saturday, saying the real estate mogul helped run a phony "Trump University" that promised to make students rich but instead steered them into expensive and mostly useless seminars, and even failed to deliver promised apprenticeships.If true, it sounds like nothing out of the ordinary for for the real estate investing "education" space, where gurus and others with promises of fast riches, often leave "students" with little to show for it but a large credit card bill and more and more upsold "education."