I'll provide some insights into your questions, but please consult with a tax professional or CPA who can provide tailored advice based on your specific situation.W2 Income and RE Professional Status:You can potentially qualify as a real estate professional while still having W2 income from a previous job.

A knowledgeable tax professional can provide guidance tailored to your circumstances and help you make informed decisions to minimize your tax liability while staying within the bounds of tax regulations.Remember that tax laws can change, so staying updated and seeking professional advice is essential for effective tax planning. 

As with any tax strategy, it's essential to seek professional advice tailored to your unique circumstances to ensure compliance and optimal tax planning.

They can provide more specific advice tailored to your situation and help you maintain accurate records for your business activities.

Your intermediary and CPA should be able to provide you with guidance tailored to your specific situation, and it's advisable to obtain their input before proceeding with any consolidation.

It's essential to consult with a tax professional or financial advisor who can provide specific guidance tailored to your situation.Renting the Renovated House:If your original plan was to live upstairs in the renovated house and rent out the downstairs portion, this could still be a tax-efficient strategy.

So, unethical, maybe, maybe not, from the standpoint of the buyer - yes it is, from teh standpoint of the seller - no, it is good negotiating techniques.

You then title the insurance in the name of the trust, and it's beneficiary as its interests may appear.Now, I would not suggest you do this without a lawyer who knows the technique, and many of them don't. 

Lots of people try this technique (often called house hacking) so let me know if you have any specifics you would like covered.  

PM me anytime I cold call daily for my business and may have some techniques that may improve your experience!