For someone that's not as conservative, or a different view on the next recession, they might have a different opinion than me on all of this2) Sponsor quality check: (takes about 45 minutes per deal)I believe that a great sponsor can take an average looking deal and make it great, and that in mediocre sponsor can take a fantastic looking deal and make it bad (especially if there is a severe recession).

Are you in a position to get a HELOC on one or more of your properties?

@Bruce Scannell - If you PM me I will send you a quality introduction.

It depends on the age, current condition of the property, and quality of tenants.5.  

I am from the upstate and I would like to make a positive impact on the local area one rental property at a time. 

Continue to invest and if and when the market falls then you will be in a good position and have some great opportunities to score discounted real estate at bargain prices from people who didn’t prepare .

If you put 20% down ($20k) and financed the rest ($80k), at 5% for 30 years (Total Interest = $74.6k), if you go the full term, the TOTAL cost to buy your home would be = $174,604.63However, if you buy a home to rent, and you have positive cash flow (this is important), and like above put the same DP of $20k down, with the same interest rate, term, etc..., the TOTAL cost of the this home to you would be = $20,000.Why? 

This house seems like it was one what was put together quickly and not very good quality so things are breaking pretty regularly.

The IRS has just issued updated guidance on OZ's including the draft self-certification form (Form 8996).From a quick high level glance at the newly issued 74 page draft regulations it does appear that only capital gains will qualify (which confirms the position our team held) Our real estate team will be diving into this over the weekend and next week in more detail.

I'm not seeing a bunch of high quality 4 plexes in my area, nor am I seeing a bunch of 4 plex builders.