Congrats on your success so far and to future success as well!

I’m a realtor in Indiana and have an investor client doing really well with Section 8 rentals.

One year after I used that property to pull a HELOC and this year used that money to purchase an off market 4 family property in Clinton for well under market value, which I just recently finished all of the repairs and upgrades on.

It can only be addressed in a one-on-one manner, because if you ask another CPA for a second opinion, it very well can be the opposite from the one you asked first.Here're a few of my personal pointers.1.

Account Closed a PMC has two options to get liability insurance (tenant slip & fall) protection:1) Get added to owner's policy as Additionally Insured (NOT named insured).2) Setup a master commercial policy and add every property they manage to it and then charge those owners the cost of the policy.Otherwise, a PMC CANNOT get liability coverage on a property they have no ownership interest in.So, nothing wrong with their request.

Have a great foundation repair company in your contacts list as well as a great structural engineer.Some flippers thrive on these properties as without repair they can be difficult to finance with financing an owner/occupant would use. 

It's crucial that this allocation is reasonable and well-documented to withstand IRS scrutiny.

Is this the only market you are looking at to invest in or are you open to out of state investing as well?

If you want to look at total expenses over the years, you need to look at total income received as well with your potential sale price. 

The biggest question I would ask is how well they know the area such as neighborhoods and do they have connections to building a CORE 4 such as great contractors, property managers, attorneys, etc