A lot of that time is used up already.

Hello all,
I am currently pursuing a Master’s degree in International Real Estate and have 17 years of experience in the construction industry in my home country. While I am new to the real estate market in the USA, ...

The first line of item #1 of the note should be:Who is that.

Some lenders allow you to go up to 90% combined loan to value meaning whatever your balance on your first mortgage is plus the equity loan can go up to 90% of your homes value.

I see this come up on the forums from time to time and as a mortgage broker myself here are the strategies I implement to work with great lenders1.

First capital outlay is long before any income. 

@Eric McginnI’ve had this same problem at my first three family.

How do people who acquire and manage STR's track the time for their Active Material Participation activities? 

Start-up costs are also deductible but are amortized over 15 years with a limit of 5k.Start-up costs have strict rules and your case might not be the same as this one.Case Summary:Timeline line of eventsStarted investigating property: FebPut first contract (canceled): MayBought first property: December 30thWhether a taxpayer is engaged in a trade or business is determined using a facts and circumstances test under which courts have focused on the following three factors that indicate the existence of a trade or business:Whether the taxpayer undertook the activity intending to earn a profit;Whether the taxpayer is regularly and actively involved in the activity; andWhether the taxpayer's activity has actually commenced.On the basis investor testimony, we may assume that he undertook this activity to make a profit and that he regularly and actively engaged in it.

I built about 70 homes in Oregon during this time and its been a challenge..