Get some help to avoid misreporting this in a way that could cost you significantly on taxes...

In my experience, it's crucial to be aware of these state-specific rules to avoid unexpected tax liabilities.

To avoid this, it’s best to work with a broker who can shop around and present you with options from multiple lenders without multiple credit pulls.

I’m sharing my experience so others can avoid the same issue. 

I recommend educating yourself as best you can to avoid some common mistakes.

This sentence, for example, seems completely unnecessary: "Thank you for your time and attention to this matter.

It's the one-year required management agreement at 10% that can get you (although you can re-up the following year at a discount if you pay the entire year at once).What you definitely need to avoid is leasing through them, should your property become vacant.

These big-ticket items will still need replacement eventually, and having a reserve fund helps avoid financial surprises.

Owning properties through LLCs in their respective states avoids the need to register a foreign LLC, which adds costs and administrative requirements.If you plan to acquire properties across multiple states, you could create a parent LLC in Florida and have individual property-specific LLCs (child LLCs) in each state.

You can refinance it into a conventional loan and that helps avoid the higher down payment.FHA also offers more wiggle room when it comes to DTI debt to income ratios and reserves requirements.