My property manager just announced a new policy for all pre-1978 properties they manage:Their new requirements:A mandatory $699 lead-based paint test on the entire property.If the test finds any lead-based paint, they will terminate management immediately and will not manage the property again until full abatement and clearance are completed.They say this is due to increased EPA enforcement and new expectations that property management companies be EPA-certified and keep extensive compliance records.Their position is that a negative test minimizes future compliance obligations and repair costs.What I’m trying to understand:Is this type of policy reasonable or common for property managers curretly?

Some that come to mind that were impactful for me were Set for Life, the House Hacking Strategy, Multi Family Millionaire volume 1, the book on rental property investing, the book on managing rental properties, and both of Chad Carson's books.I house hacked my entire 20's (did 7 total) and it was hugely impactful for my overall financial position. 100% would do the same thing all over again if I was starting from scratch in my early 20s.

.• Verify unit condition and tenant quality.Many house hackers underestimate the impact of tenant quality on their first multifamily.

When I see that happening, I'll have to rethink my positioning in real estate.

That seasonal dip has a major impact on your yearly profit.A 5% annual return on a $400K STR is realistic in today’s environment.Most STR owners using property management land in the 5–8% range after all expenses.

Some things you can't fully control, but positioning yourself and adjusting to your market is really important.

The 1031 positions the investor into a property that the REIT absorbs as @Joe Sera said in the 721 conversion. 

Which units are renovated, and which are non-renovated (this will impact rents).

Because the Property Class dictates the Class of the tenant pool that the property will attract.The Tenant Class greatly impacts rental income stability and property maintenance/damage by tenants.Both Property Class and Tenant Class will affect what type of contractors, handymen and property management companies you should target and be willing to deal with a property.The Property Class will also impact the maintenance & renovations you do to, “Maintain to the Neighborhood”.Why is that important?

. - What's the ONE most important task you can accomplish during your day that has the largest impact?