The ordinary course of a trade or business exception is inapplicable because the rents are not derived from a trade or business and will therefore be subject to section 1411.
However, if the rental real estate activities of the real estate professional are not section 162 trades or businesses, the gross income from rents derived from such activity will not be excluded under section 1411(c)(1)(A)(i) by the ordinary course of a trade or business exception.
The top 35% rate on ordinary income is the lowest since 1925, with the exception of five years following the 1986 federal tax overhaul (the one that zapped a lot of shelters but lowered rates).