Fit Check
Do you even need REPS?
Estimates your $25,000 allowance under IRC 469(i), the loss it doesn’t cover, and a deliberately generous ceiling on honest hours.
126 hours per self-managed door is a generous ceiling from our review of court cases. It’s used only to rule REPS out early and is never a target. Property-managed doors count 0 until you describe real decisions you make. Agent/broker hours and K-1 interests need a CPA. Example data only; not tax advice.