Once you have that answer, then you can start to see how you can allocate your equityGino 

I allocated property management but I've been doing it myself.

My wife and I have a very small nest egg set aside that is allocated for property aquisition, and that egg grows by the month, so we're not in any hurry.That said, like many other areas around the country, real estate prices are climbing and finding houses on the mls that meet our criteria seems to be going nowhere, which has me looking elsewhere.Looking through the bigger pockets marketplace, I see adds for a few turnkey companies,  and have gone so far as to email a couple in hopes of talking with them this week.

At tax time, just allocate your expenses between person and the rental. 

I would rather recommend that you follow a true passion and continue to allow RE to be the asset you allocate your savings to grow long term wealth.

@Rafael Norat : I think allocating 2 years of reserves is a great idea: wondering though, how much are your total costs for the 30 units you have currently (costs for repairs, utilities etc) and if you will factor those in - into the "2 year" reserve goal or not?

.$10k STR rent on $1.3m property at 80% LTV  will be negative cash flow when properly allocating for all the expenses.  

@Jeffrey McintyreThe IRS/Court cases have listed several methods determining the cost between building and land.As Long as you use one of the methods and document it; you should be fine.I do see many accountants just allocating a random figure between land and building across all their clients.

Jenny Chung,To add to Will Barnard's post, if there is a trust issue from the wholesaler to you, then just have the escrow party (i.e. title company, attorney, etc.) disburse a check to the wholesaler directly, this way your hands are clean and he doesn't feel the same apprehensions you have.All you would have to do is create a simple disbursement or allocation of funds letter and this will give the escrow company the written authority to disburse a check direct to any party you desire.If the wholesaler is adamant about receiving funds up upfront, then it is a scam. 

Achieving (more importantly justifying) Qualified Real Estate Professional status is doable but complex and you’re going to need your own property in order to justify having annually spending that amount of hours (it is highly unlikely that any QREP audit would hold water based on you (or non W2/1099 income spouse) allocating the required hours on someone else’s passive deal).