Always good to see other local investors, there's a monthly meetup in Marysville, WA at the Bob's burgers & brew.

Starts @ 7:00 PM at the Bob's burgers.

I didn't read this to ensure its accuracy but it certainly looks to be from a credible source. https://www.irs.gov/pub/irs-utl/33-Real%20Estate%2...Cliff Notes:Real Estate Professional Qualification • Material participation in each specific rental • Material participation in separate Real Property Trade or business • 50% rule • 750 hours rule • 5% ownership ruleReal Estate Trade or Business Defined IRC Sec. 469(c)(7)(C) Any Real Property: • Development or redevelopment; • Construction or reconstruction; • Acquisition and/or conversion; • Rental Activity that is not a Passive Activity; • Property management; • Brokerage activities.Example 1: Laura owns 5% or more of a real estate sales office • Works full time as a broker • She owns 3 rental properties and: • She finds the tenants; • Approves tenants and leases; • Approves and oversees repairs & improvements • Net rental losses are $31,000 and her modified AGI is $160,000 before the losses • Deduct the full $31,000 in the current tax yearExample 2: John acquires old homes and contracts 3rd parties to renovate and ready for resale.

Quick example of 70%.ARV is $125kNeeds $30k rehab125k x .7 = $87,50087,500 - 30,000 (rehab) = 57,500 max offer priceThe 70% rule really just is a guide to ensure you are getting a deal on the buy.

Try to find a property that will fall under the 1% rule (Rents = 1% of purchase price).

Does the property meet the 1% rule.  

Otherwise if you're open to driving, there's a meetup at the Marysville Bob's burgers  2/26/18 @ 7PM.

I will say on the phone ( and I know this is corny )  Hey is that an in and out burger across the street from you.. 

The Cascadia Investors Alliance has their North-end meetup on the 4th Monday of every month (7Pm at the Bob's Burgers in Marysville, WA).

@Nathaniel Anderson There's a meetup this Monday 4/23 @ 7pm at the Bob's burgers in Marysville.