Each event focuses on a different topic matter, from House-Hacking 101, the search & purchase process, property management, financing, risk mitigation, the structural & mechanical components of a property broken down, and more.   

I also like the idea of isolating the space containing all of these components if that is feasible.

That basis is allocated between non-depreciable land, depreciable building and components that are depreciated faster.

You are not doing a big Rehab where you replace major components.  

@Rupert GrantGenerally if you're eligible for a Solo 401k, it makes sense compared to a self-directed IRA for many reasons: Compared to an IRA, Solo 401k contributions limits are roughly ten times higher.There is no custodial requirement for the 401k.You don't need the additional expense and administration of an LLC to have checkbook control.You can borrow up to $50k from the plan; IRAs do not allow participant loansThere is a built in-Roth component whereas IRAs are either traditional or Roth, not both.A spouse can also participate in the same Solo 401k plan.The Solo 401k has additional tax benefits over an IRA when investing into real estate using leverage.The penalties for prohibited transactions are less severe, though it's best not to utilize this benefit :)The one exception I can think of is if your primary goal is to self-directed Roth IRA funds.

Doing it poorly will make you not want to get up in the morning, and most landlords do it very poorly.Rather than trying to source and then assemble all the key components of a comprehensive and bulletproof property management system (e.g., lease management, repair management, payment processing, lease renewal management, etc.), find someone who already does that and then let them do their job.That way, you can focus on your job: finding great deals!

Though it doesn't seem nearly as detrimental as a high utilization on 'cc's. 

Many mistake the yield as the return in the asset, when it is in fact only a tiny component of the return.

One of the key components is a solid insurance agent.  

You should really just sit down with an experienced attorney, and a good CPA and banker for that matter, to weigh out your options and really understand the components.