With REP Status + Material Participation:Losses from rentals are considered non-passive.This means you can use cost seg losses to offset W-2 or active income, which is where the big tax savings come in.3.

My wife is a stay-at-home mom but handles leasing, tenant issues, repairs—basically runs the rentals.We’re exploring if she can qualify for Real Estate Professional Status to offset my W2 income.

Today, social media is one of the most powerful tools real estate investors and property managers have.

Standard Tenant Screening: Verification of Identity:This involves requesting a copy of the applicant's passport and visa (if applicable) to confirm their identity and legal status.

Given your situation—high W-2 income and a spouse who’s home and interested in managing rentals—you're actually in a solid position to make the most of Real Estate Professional (REP) status if done correctly.A few considerations:Yes, real estate takes work.

My wife is a stay-at-home mom but handles leasing, tenant issues, repairs—basically runs the rentals.We’re exploring if she can qualify for Real Estate Professional Status to offset my W2 income.

I've always found the background check services do not do a thorough job so I always overlay that service with my own gumshoe due diligence  (talking directly to immediate supervisors, ensuring the previous "landlord" owns the property, checking social media, etc.).Never rely exclusively on these services. 

Quote from @Stuart Udis: Some of my favorite social media syndication capital raising adverts I continue to see:1.

I bring this up because I've seen at least 6 posts (specifically from CA investors looking for cash flow).I want to leave my kids assets because I think the younger generations will be in a very bad financial spot, unlikely they'll get Social Security, inflation, other world issues etc.

Quote from @James McGovern: Some banks will put the property on the MLS as a pre foreclosure status which you can query.