I wouldn't worry too much about it, if you have a competent CPA or bookkeeper they should be able to review your books and within minutes have a strong grasp on who gets a 1099 (spoiler alert, not every contractor gets one, I'll be annoyed if I get one since I'm structured as an S corporation) and the amounts to report.1099 filings are usually a loss leader for us, so if you're working with a professional make sure you take advantage of them filing everything for you.

It's a great way to increase your net worth and these loans can also be used to pull cash out of a property as it appreciates allowing you to reinvest money into new deals.Happy to connect to discuss further. 

Another tip here is to let them bring their own linens (fairly common) so you save money that way! 

Anyone have any tips?

From what I've seen, think you should have no issues finding something needing some updating to hopefully further build equity and push rents. 

@Bob AveryLike Wale stated I would go to MNREIA meetings to further your education and expand your team. 

Any tips would be appreciated

Further, a paid off purchase does not preclude me from refinancing in the future.

Welcome to the community and be ready for a huge amount of information at your finger tips.

I hire a contractor to install a cleanout further down the line so we can discover what is going on.