Otherwise, if you're going by IRS definitions, you'll need to spend more than 50% of all your working hours managing to qualify as a professional.
Being a landlord IS being self-employed.
Those who embrace this aspect of the free enterprise process need to understand, being self-employed, owning your own business as it really is, CAN NOT BE an exchange of time for money - which is the defination of a JOB.
A good landlord understands the multipliers that are available. As a small business owner they are exposed to risk and also reap the benefits.
Property management....is a JOB!
Best of success to you,
Annette Lawrence, Broker/Assoicate
Remax Realtec Group
Palm Harbor, FL
Licensed Associate Broker
Accredited Buyer Representative
William Raveis Legends Realty Group
If a landlord or manager lives close by to their properties, it can be a short trip to the hardware store
and/or a quick trip to fix something in a unit. Whereas if you're 50 miles away...that could take
half the day.