Situation :
I have 10 rental properties (for over 5 years) and they are all managed by a property management company.
Question:
1. Does the time a contractor spend (that was hired by the management company) in order to fix a problem (e.g. a leaking roof) counts towards the 250 hour IRS requirement ? ... or ... only the time it took the management company to call and followup with the contractor counts ?
2. Not sure what's the (IRS) exceptions regarding keeping records about how much time it took to handle a rental property "case" ? Do property management companies required by law to generate reports like that for their customers ? if not ... how exactly are we (i.e. the owners who use management companies) supposed to track the time each case takes ?
3. Turbotax asks PER reported property if it's qualified for QBI. If , for the sake of QBI, i want to consider all my rental properties as ONE enterprise so the 250 hour rules is for 1 Enterprise instead of "per property" ... how would i go about doing that ?
