As long as you are active in some of the decisions you quite likely will be considered active.You can get around the 25K limit and the high income limitations if either you are your wife is considered a real estate professional.

Due to my lack of experience, two of the lenders required the use of a professional property management company from their list of preferred vendors.

Professionals understand that they are responsible for the loss of use of a property due to negligence or failure to perform as agreed.If a contractor tells me work will be done in a week, I'll usually allow another 20% or 3 days in this case. 90 days will get them 3 more weeks, that is plenty of time for the CG to cover an issue.Toward the end of some jobs, when there is not much money left in a job you may find a CG who starts moving on to other jobs, they may tend to slack off, dragging their feet finishing a punch list.

If I remember in basic accounting classes, if you buy back debt you owe at a lesser value than what it was issued at, that is considered a financial gain in the IRS' eyes and we know what the IRS does to financial gains.I'm not 100% sure, that's why I would think its worth a few hundred bucks to find out from a professional.

I'd recommend finding a tax professional (Preferrably a qualified and reputable Enrolled Agent or CPA) We here on the board can definitely help you find someone.Summary: Everything can and will be deductible.

After interning at a local CPA firm and talking with numerous Big Four professionals, I came to realize that although I did well in accounting and took full advantage of accounting clubs and associations, real estate was my true passion.

I am not a professional writer or a professional social marketing guru, I really don't know if I am on the correct track or not.

The neighborhood is very desirable to professionals, walking distance to the regional hospital and five minutes to downtown.

Thought that when I hand a card out with my property pic on it, which by the way I always do everywhere I go, that it might make it more appealing for a prospect to go to the professional website and take a further look see at my fantastic and beautiful properties(mine are better than everyone elses of course).

One can be an excellent agent without the certifications, or a poor agent with a business card full of acronyms.Aside from the normal qualities desired in any professional -- good communication, reliability, diligence, initiative, responsiveness -- a good investors' agent needs to have a level of expertise that's hard to get in a classroom.