SoBeRei,I would strongly suggest consulting a tax professional.

I've heard being classified as a "real estate professional" (ie 750 hour test) will avoid cap gains tax.

Hell, I've been an independant consultant for 30 years.My point in criticising the MLM "foreclosure help factories' is that in my professional experience (investigating allegations of predatory practices for the Mortgage Bankers Association, Washington DC, and serving as Plaintiff's expert on mortgage loan servicing in several Federal Bankruptcy Courts, plus running my own NonProfit preforeclosure counseling org for a decade) is that the offer to "help" evaporates the instant the so-called services provider realizes there isn't a buck to be made.... leaving the distressed homeowner in worse straights.If you are an exception to the generalization, that's great as you are one less businessman in need of oversight.

Yes I am a professional and damn good at what I do.

Believe me, there are "professional" deadbeats that know how the system works, and will move in for nothing, play you, and end up with six months of free living.

Place in the lease the requirement that the carpet be "professionally cleaned" because they will show up with a Walgreens do it yourself machine.

Does it add some needed professionalism?

This site seems very professional, supportive, and welcoming to all interested in Real Estate.

Here's the official word back:Per ORS 696.010 (11) "Professional real estate activity" (j); the person you pay a fee to would be doing professional real estate activity without a license.

I plan having 1 minor construction task done: filling in one doorway to a cubby on the 3rd floor and then knocking down a wall from the master bed to form a walk-in closet, and then professionally repainting and cleaning the place.