Here's a list of things to track:- Formal lease application- Formal signed and executed lease specific to your state- Payment history (I recommend using online rent collection like Apartments.com, RentRedi, etc)- Maintenance requests and receipts- Accounting for all rental-related expenses (repairs, utilities, etc) The more you treat it like a business, the more helpful you are to your CPA come tax time. 

However, for investors looking to diversify, vacation rentals can provide attractive, short-term income opportunities.Challenges and Considerations for American InvestorsWhile Germany offers many advantages for real estate investors, there are also certain challenges to be aware of:1.

The IRS has not established specific standards or requirements for the preparation of the cost segregation study.

Prices are still considerably higher than just a few years ago.

I’d love to hear any tips or strategies that have worked well for you in real estate marketing, especially with PPC campaigns.For those who’ve done this successfully, are there specific keywords, ad placements, or campaign types that you recommend?

Quote from @Joshua Tucker: What specific tax benefits can high net worth individuals receive from building real estate on tribal land?

Many people don't realize that you gain as much or more net worth through debt pay-down, and while it's less liquid than cash flow, over a 5-10 yr hold period it's considerable if you buy in the right areas with the right asset class.

Other considerations are the lost costs to sell and re-purchase other properties.

Here's an example: we use PriceLabs to gather data on all 2BD/2BA condos within a specific radius (5 or 10 miles, depending on the market).

So, you go over budget FAST.So, your Scope of Work (SOW) MUST be very specific as Mr Perez learned when contractor didn't put in new outlets.To "perfect" your SOW, suggest you walk the property with 3 contractors and ask them what needs to be done.