I’ve received a number of responses from investors essentially stating that they use a simple buy/rent/hold approach in small residential properties, and have accumulated net worths in the 1 - 3 million $ range starting with just one mortgaged SFR. 

In 2018, after four years of no reports and membership payments, Vantage IRA sent him a 1099 notice saying that they had distributed the full amount last reported in 2014.Additionally, my friend filed a chapter 11 bankruptcy July of 2014, shortly before his arrest.With this being said, my friend never received the disbursement, Vantage IRA is still the member of the 7 LLC's contained within the account, and the LLC's were never closed.

During that time, I received a letter from the City of Lorain about some violations, including overgrown grass, missing handrails, window frames, and not pulling the necessary permits.

If you receive payment through zillow, it reports on time rent payments to expedia, renters have to opt out if they don't want it.

Regarding single member vs. multi-member LLC's, you need "Charging Order Protection" (COP) to receive the best asset protection benefits.

Hope you still check this board or receive notifications...

Tenants, "go into Holiday-mode" and start spending disposable income (and racking up their credit cards) on Thanksgiving feasts & trips, Xmas presents & trips, and finally NYE plans.3) Income Tax Refund checks start being received towards the end of February and corresponding, the rental market starts picking up again as tenants payoff their “Holiday Hangovers".4) Spring Fever starts, sometime in April-May, causing both sales & rental markets to start picking up.

I know certain things like insurance, etc. can't be deducted.Are there are big missteps I should make sure I'm not making in my assumptions/landmines I shouldn't step on to make sure I can deduct these expenses and receive the right rebates in my tax returns at the end of the year?

One of his other posts somebody said that it was the best answer they’ve ever received on Bigger Pockets.

Here is what you are teaching others:1.Perform a ton of research on how to generate leads.2.Listen to podcasts on your way to work.3.Question the meaning of life, listening to, and dissecting all that information.4.Find A list, Filter That List, Buy that List, Buy stamps, Buy mailers.5.Handwrite 5000 letters.6.Include a pen inside the envelope for “lumpy mail”.7.Send mailers.8.Experience a short-lived feeling of accomplishment.9.Followed by an intense sense of depression and shock upon receiving a ton of angry calls from said mailers.10.Get a ton of returned mailers.11.Skip trace these addresses.12.Pay for a new set of envelopes mailers and stamps.13.Resend mailers.14.Experience another short-lived feeling of hopefulness.15.Followed by an intense sense of depression and shock upon receiving a ton more angry calls from said mailers.16.Listen to more podcasts.17.Get a “AHA!”