Bonus depreciation and Section 179 allowances for improvements can be utilized, with the latter, however, capped at zero to prevent negative losses.

A reserve is unnecessary, but I still keep around $15,000 - $20,000 in my account.The point is, that you should sit down and assess your finances to determine what the worst-case scenario may look like, how much you would need to cover it without impacting your life, and whether you will need to build a reserve.

I kept meaning to buy for a few years, but I’ve been simply overloaded with a startup.My current country prevents me from purchasing property (non-citizen), and doesn’t offer fixed rate mortgages - the floating rate is high rate at 7%, and has been about this the last 20 years.

They have super majority so cannot even filibuster to prevent legislation.

To prevent cost overruns and delays, keep close tabs on project schedules and spending.The optimal strategy for financing your first real estate transaction will ultimately rely on your personal objectives, financial situation, and level of risk tolerance.

On very heavy rain days we always get a lot of calls due to some basements flooding.It's just the nature of the beast and nothing major.Maintenance pumps out the inch or so of water fairly easily and quickly.Property management walks (For free) the property yearly before the lease renewal.We had push back on charging $250 for a 2 x yearly Property Condition Report through Inspectify but are now having a "click out" option so we can't be blamed in the future for deferred maintenance.It's incredible the lengths that we need to go through to protect the company from such instances.With that said, we could have done a better job with preventative maintenance here.Investors reading, "Yes" we do our best to cover absolutely all angles as your eyes and ears, heart and soul on the ground.

What else can i ask just to prevent potential issues with a tenant.  

Use people specialized in this field so that you are not caught up in any unnecessary details but can always make simple transactions without any difficulty.

The MLS rules prevent your contact information from appearing on websites, but websites are required to show the listing broker phone number.

You as an investor also shouldn’t be greedy and it’s a perfect match :) (To prevent a misunderstanding: I knew the property was being renovated and unoccupied at the time of purchase, they've informed me during the offer.)+ In my 2nd property a well pump issue showed up after the renovations have finished.