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Can I Qualify as a Real Estate Professional With Out of State Rentals? [Tax Smart Daily 040]

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Table Of Contents

    To become a real estate professional, you must work in the real estate industry for 750 hours. You must also devote more time to real estate than to any other endeavor.

    Now, what if you have out-of-state rental properties?

    Does time spent managing property managers count toward REP status?

    Is it possible to qualify as a real estate professional without participating in the day-to-day operations of your rental?

    Find out in this video from The Tax Smart Real Estate Investors YouTube channel.

    Listen in to learn:

    • How to qualify as a real estate professional with out-of-state rentals
    • A strategy that will get your out-of-state rentals to qualify as non-passive

    Subscribe to the YouTube channel for more answers to real estate tax questions!

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    Hall CPA PLLC, real estate CPAs and advisors, helped me save $37,818 on taxes by recommending and assisting with a cost segregation study. With strategic multifamily rehab and the $2,500 de minimus safe harbor plus cost segregation, taxes on my real estate have been non-existent for a few years (and that includes offsetting large capital gains from the sale of property).

    Mike Dymski - Business Owner