Would your rental property loss first need to be allocated against your mgmt income for purposes of calculating your QBI?

If the parcel you are purchasing will cost you $300K then you could allocate 1/3rd of it to any use you wanted. 

My guess is your expenses with proper allocations for PM, CAPEX etc will go up a bit but; still very workable depending on the new price.

I will allocate a portion of the acquisition cost and the associated rehab cost to form my cost basis.

., You or your accountant have allocated that property into % use by primary residence and the investment portion. 

or is this different cause of the commercial allocation?

Its simply a mechanism for allocating property distributions and tax attributes in a manner other than a simple pro rata approach.

Or did you set that aside in case what you've been allocating for expenses was not enough?

So 98% of the notes on the platforms can't meet these standards and there isn't enough volume to handle the amount of money I allocate to hard money loans.

., 1 driveway, 1 porch, 20 windows... whatever Capex you anticipate doing while you own it, and total that up then divide the number by the number of months you plan to hold and use that as your Capex allocation instead of a percentage of rent.