Other risks, the contractor walking off the job, a storm hitting and delaying the project for weeks, someone breaking into the home and stealing stuff (which happened just the other day to a client of mine), a squatter, or drunk driver driving into the house (happened a lot at my old job as a firefighter lol).

Then you have all the TV shows that glamorize flipping etc.. so its no wonder there is so much interest in real estate right now.Then you have the I quit my day job to be a full time investor..

I'm not sure if we can like to articles on our own websites here, so to be safe I'll just suggest the IRS web page, which does do a pretty good job of explaining the basics: https://www.irs.gov/taxtopics/tc510The main thing to know if you're going to claim business miles is that you do need to keep a log of every business trip. 

California offers great job markets and weather, but comes with high costs. 

They are always super quick to respond to any questions and very helpful in general, making sure you have everything you need to make your job easier.

Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560 (almost 30% probability of default), little to no good tradelines, lots of collections & chargeoffs, recent evictions.

As long as you focus on areas with strong job growth and analyze the deal carefully, I think you will be in great shape. 

Rents are sky high in certain neighborhoods of Jersey City (we are second to NYC) as such many of the tenants are professionals with high income commuting to their jobs in NYC by ferry, 24 hour path train and bus.

Since I’m still in school I don’t have much money, I’m trying to learn as much as I can about real estate so that way once I get a job out of college and a steady income I’ll know what to do with my money.

They do an incredible job.