However, as the owner you still need to spend more than 50% of personal services and more than 750 hours on the real estate business on your own.Alternatively, short-term rentals are generally treated as active business income and therefore are eligible to offset w-2 income.Navigating the Real Estate Professional Rules"When measuring material participation, a married taxpayer is required to count any hours performed by his or her spouse, even if the spouse does not own an interest in the business or if no joint return is filed.32 While this rule is advantageous because it makes it more likely the taxpayer materially participates in the real property trade or business, it is a trap for the unwary in the real estate professional context, as discussed below in Step 3.""

A good trick if your having trouble finding one that will cash flow is reaching out to owners that have had their property for over 10 years. 

Matthew Rodriguez is the Franchise Owner and Certified Home Inspector and brings years of industry knowledge, as well as specialized local wisdom to our group.Drinks and refreshments will be served.

Get a new Contractor to follow the drawings you already have and retain the Architect to do site visits to observe the progress of the work.

You may easily look up the person on the NMLS site with their licensing number and find out if they are authorized to conduct business. 

If he sells real estate and owner finances or just sells and moves into non-real estate equites he will lose the offset of depreciation to his income. 

I am co-owner of a company that provides EMD Lending services to wholesalers. 

Michael, I would suggest you buy the live in house as a owner occupied property and stay their for the foreseeable future while you rehab the property.

Secure W2 employment, tackle side gigs, save religiously, build your credit, and house hack your first deal utilizing an owner-occupied investment loan.

Now owner needs money and wants to sell it.