But neither do you, yet you started with:"Short answer is "yes"  - which I consider misleading.And you manipulated the OP's question to fit your agenda.

Quote from @Cody Caswell: Quote from @Bruce Woodruff: You're correct that getting every detail involved right from the start is critical!

Here is another 200 hours.

Did you or did you not meet 500 hours of material participation as needed? 

I imagine this is a similar model to Redfin's associate agent program that pays by hour/tour.

I would also pay by activity not by the hour.  

I wanted to start tracking my daily hours in the business and wanted to understand HOW I need to do this so it gets approved come tax time. 

He has been alongside me on the other deals so I’d like to give him equity/skin in the game and I don’t know how else to do itQuote from @Basit Siddiqi: Getting a property with a partner / friend will not help you from getting hosed on taxes.I wouldn't move forward - You mentioned beng a high income earner so your hourly rate is very high.

But for maximum revenue start with seeing what rooms go for in your area. 

This is the only app I can find customized for tracking your hours and that of your cleaners, handymen etc...