The intricacies tax planning with a rental are worth hiring a professional, even if you just do it once for an overview. 

If possible, in the future I would try to obtain a copy of a standard Condo questionnaire from the HOA prior to the mortgage application process and ask your lender to review it in advance in order to mitigate some of the time and costs risks associated.

I sent an invite to a prospective applicant that qualified and Looked high and low for the invite form with some additional notes to the applicant only to find out that it is not even on the platform at all, anywhere but in an email confirmation I received.

Hi Mia, Great suggestions for questions to ask a potential tax professional!

@Eli JermanYes, you should hire a tax professional.

Imagine making millions of dollars over the course of your career and then having to pay 30-50% every year to uncle sam instead of compounding that cash over time.This is exactly what real estate professionals have learned to mitigate.To reduce their taxable income, they just buy a building every year, do a cost seg, and use depreciation to reduce their tax liability dramatically.Their personal wealth snowball grows much larger and much faster than their W2 counterparts who give most of their money back to the government each year.Following this strategy as a real estate professional is one of best ways to end up with a much larger net worth at the end of your career.

Quote from @Michael James Hamlin: We just moved to Baldwin county and we are looking to network/partner up with other professionals in new construction, fix and flip or commercial.

Hi Tio, I don't think hiring a professional designer is wise as it will cut into your margins and sounds like you have a tight budget. 

Here’s an example of what I've used if they don't qualify based on what's on application. 

Nowadays, people can make paycheck stubs/W2's that look convincing so just make sure you invest in software that gathers verified information on applicants.