Passive ActivitiesFor each of the following, state whether the individual might be a real estate professional $($REP$)$ under $469($c$)(7)$ and why or why not. If you conclude that any of these individuals is a REP, will they meet a material participation test for the rental activity $($assume they made an election to group all their real estate rentals$)?$

A$.$ Lenny owns a $10-$unit apartment building in San Mateo. He spends about $1518$ hours per week handling all of the maintenance, rent collection, etc. as he has no one helping him. Lenny works full$-$time as a software developer for Meta.

B$.$ Nancy is a full$-$time real estate salesperson for Intero in San Jose. She owns two single$-$family residences in Mountain View. A gardener works about $2$ hours per week on the properties and Nancy handles the rents and finding tenants when necessary but generally, a tenant stays for at least two years. She spends about $120$ hours per year on the rentals.

C$.$ Same as $($b$)$ except that Nancy works full$-$time as a CPA at a CPA firm.