A corporation or an LLC taxed as an S-corp/1065 cannot have a “principal residence,” so the ownership and use tests both fail.

I’ve tested a few, but Baselane has been the easiest for small portfolios.

If your average stay is ≤7 days and you meet the material participation test, you can still treat it as an active business.

Good news and bad newsGood news: your wife's REPS eligibility covers you, as well.Bad news: you need to meet the material participation test with respect to these two properties.

Test with small jobs first?

And even though virtually every sponsor agreement allows me to share investment information with others who might be advising me on it (especially when club members are bound by an NDA), I still ask the sponsor if I can share it, because it's a test.

I do  have a good paying job that helps me pay my primary residence, but I like to plan for rainy days.My ultimate goal is have enough rental income to live off of, so I know conventional wisdom says I need to buy more rentals.

I'm curious about this also, I've been testing Stessa but it's not intuitive and I keep finding weird glitches that make it almost more work than just entering transactions manually.At some point I found it had automatically added a full security deposit return after a move-out, despite me not having manually entered it nor there being a bank transaction - so I contacted Customer Service and then forgot about it because I was testing other software.

Bring one live deal with T‑12, rent roll, and your underwriting and I’ll help you pressure test it.

The borrower didn't move forward because the rate increased due to the lower DSCR, and the borrower was receiving less cash out.This property was part of a larger portfolio that my client was considering refinancing, but wanted to test the waters with 1 property first.