Not an attorney - typically it is defined as moving into the property 60-90 days after closing and living there for a year. 

Superficial Improvements: The focus on aesthetics might mean that only visible areas are improved, while critical but unseen aspects like plumbing, electrical systems, and insulation are neglected.5.

Things I've got down to minimal effort or fully automated: * Rent, security deposit, and fee collection* Basic accounting and tax packet creation* Listing vacancies* Lease signing* Applications, credit, and background checksThings I'm still dealing with directly ad-hoc or don't have a well defined process or solution in place for:* Requests and communication with tenants* Finding and coordinating service providers for maintenance and repair work* Scheduling showings and getting prospective tenants to make their appointments* Tenant turnover for move in and out* Keeping up with legal changes and lease template updates* Setting rent amounts* Lease enforcement - tenants are responsible for things like yardwork, routinely get letters from the city about weeds / tall grass, etc.Questions for the group:* What am I missing if I were to make out a checklist of an "automated property"?

Ok I guess we differ on this one aspect.. one thing is certain there are tons of fake lenders out there. 

People who have already been in real estate in your area will have an idea of the best people to hire for both aspects because they've been doing it longer. 

I define stage 2 as having a fully leveraged portfolio of (relatively) stable properties.

.- **Set Clear Goals**: Define what you want to achieve with your real estate investments.

This property meets the requirements of Sections 1947.12 (d)(5) and 1946.2 (e)(8) of the Civil Code and the owner is not any of the following: (1) a real estate investment trust, as defined by Section 856 of the Internal Revenue Code; (2) a corporation; or (3) a limited liability company in which at least one member is a corporation.”I'm not a trust expert but I'm pretty sure a land trust is not a real estate investment trust (REIT), and I'm assuming your LLC is not owned by a corporation ... therefore it's exempt.

I have defined what I need and will try to find "the best match" that will help me reach my goal.  

For development, like she mentioned, the Urban Land Institute has online courses on various aspects of development, as well as on financial modeling for R.E..