That style of learning and introduction to true industry catches my attention as having someone in the space that understands the space to bounce things off of and learn from seems to be the ideal way.I have through a handful of the webinars and follow up calls with different companies and they all basically pitch similar ideas and strategies.

However, understanding the passive activity loss limitations is crucial before making this investment.

For reasons I don't yet understand, if the property is sold I cannot take advantage of a 1031 Exchange and my gains will be taxed as income, which will be 35% federal and 11.3% CA income tax. 

@Katie Lepore hi Katie, I’m looking for a CPA that understands REI, can I get the contacts to who you know?

Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers.

These people often don't understand lending and have a checklist of boxes to check.

With average rents in Charlotte hovering around $1,800 to $2,000, that means an average agent fee of just $190—if the management company even pays the showing fee.I understand that this may vary by market, but in mine, I don’t see agents being incentivized to work with renters.

If you are new and don't have a clue, then I would certainly recommend them or some company that can guide you through things until you have an understanding. 

Plus, very important to understand the new layout and how the dig down will effect the existing stairs, plumbing, etc.Happy to connect and talk through your specific situation because @Bruce Woodruff mentioned every project is different and know one price fits all espeically with these complex jobs.Where at in Chicago is your building?

I just came across the idea, but don’t quite understand how it works or if it would be worth pursuing.