Active versus Passive Realestate losses
I bought 5 single family rental homes this year so I have a lot of negative cash flow to report on taxes. I'd like to declare myself a "real estate professional" as I'm on sabbatical from my W2 job this year and could say I have spent the obligatory hours on real estate work, however, on googling this issue, many people advise against because real estate activity has to be active management and I have professional managers doing the day-to-day. My accountant just provided information and wants me to decide whether to claim this without recommending me one way or the other. Anyone have thoughts one way or the other on being a "real estate professional" from standpoint IRS for a W2 employee who has professional management of my properties? Many thx !