Once you add multiple LLCs, lenders, escrows, and Section 8 tenants into the mix, the chaos compounds fast.We’ve scaled past 20 rentals by treating our portfolio like a real business, not a hobby with rent checks.Here’s the structure that keeps everything controlled:1.

How do you get around this :The IRS requires an "actual and honest objective to realize a profit" for an activity to be considered a business for tax purposes, rather than a hobby.

Really depends on active vs passive - many hobby rule of 72 which 12% is 6 years and 9% is around 8 years. if active typically try and accelerate that by 2x 

:) If you're not evaluating adjusting rents annually, then this is more a hobby than a business venture.You don't necessarily want to chase market rents to the "penny",  but no increases is usually a sign of lax management.For the condo with numerous special assessments - what is the HOA projecting for the next 2-3 years?

A deal that loses $10k/year isn't an investment, it's a hobby, and tax benefits don't fix structurally broken cash flow.

Otherwise enjoy the hobby farm/ranch life. 

Are you trying to accumulate assets and wealth to fund your retirement, are you looking for a hobby, or are you wanting to start a new career in the real estate industry?

I'm relatively new to the world of home investing, though I’ve dabbled in buy-and-hold rentals in the past as more of a hobby.

Hobby Lobby granted closely held corporations religious freedom, same as rights people have, under RFRA. 

And @Drew Sygit that doesn't necessarily make it a hobby just a decent human who is appreciative of tenants who have paid me thousands of dollars and taken good care of my properties. ;)  Hmmm, seems you didn't read the part, "Thank the tenant for communicating with you, but gently warn them you will have to send whatever eviction notice Colorado law allows.