Not exactly. However you can open a business, sole proprietorship, on schedule C, for your real estate activities. You can declare all independent contractor income (referrals, contract work, etc.) on this schedule C along with expenses relating to your business activities--but not your employment.
Any time you are declared an employee, you are then very limited in your ability to deduct expenses, which are believed by the IRS to be the responsibility of your employer.
There are times when you might receive W2 income for work you did as part of your sole proprietorship Schedule C business, but it doesn't sound like that is what you are asking about.
Assuming you deduct the expenses of being in the real estate business (not of qualifying to enter the business), remember that the IRS expects you to actually make money doing this business, and specifically at least 3 out of any 5 years should show a profit.
