Identify the criteria necessary for owners of rental real estate to qualify for the qualified business income $($QBI$)$ deduction.

The taxpayer's primary residence must be located within $250$ miles of the rental realty.

II$)$ The taxpayer must perform a minimum of $250$ hours of real estate rental services each year.

III$)$ The taxpayer must maintain documentation for the specific real estate services performed and hours worked.

IV$)$ The rental realty must be used for commercial purposes; no residential real estate permitted.

V$)$ The taxpayer must maintain separate records of income and expenses for each rental real estate property.