Again, as @Chris Seveney has stated, you will need to engage the services of an attorney specializing  in real estate.  

If the activity of an individual or entity rises to the level of a 'trade or business', it falls under purview of IRC Sec 6041 and its related regs as encapsulated in Treas Reg 1.6041-1(a)(1)(i):Payments required to be reportedExcept as otherwise provided in §§ 1.6041-3 and 1.6041-4, every person engaged in a trade or business shall make an information return for each calendar year with respect to payments it makes during the calendar year in the course of its trade or business to another person of fixed or determinable income described in paragraph (a)(1)(i)(A) or (B) of this section.

@King Dada Hi Damahri, best advice I can give is to really engage in the BiggerPockets forums as well as sign up for their webinars to learn more.

What I do can be duplicated by anyone with time freedom who can engage the occasional issue.

Banks and credit unions can also offer flexibility for investors that engage in strong relationship-building strategies, offering discounts and solid loans in exchange for borrowers willing to use the institution for other purposes (savings accounts, etc.).

My advice would be to read as much as you can in these forums on small multi family, get engaged in a local RE meetup (whether virtual or in person), learn and practice analyzing deals and find someone who has done something similar and pick their brains.

Engaging a tax pro year after year for multi-state returns has the same impact on profit as the fees that are charged by the fund sponsor. 

Taxpayers getting started in a real estate rental business should deduct the costs of investigating properties and other related tasks as start-up costs and not business expenses until actively engaged in a rental business.

Time would have been better spent fully engaged in our virtual meetup learning and networking.

Nonetheless, I am actively researching and staying informed to best serve my future clients' needs.Outside of the data mentioned in the report, I'll definitely be paying attention to any unique patterns or trends that might arise when engaging with and match directly towards the clients' goals.