Corey- I am thrilled to hear about your decision to invest in real estate.

@Tony Thomas Even though it does not appear there are any meaningful tax advantages, I believe the lesson to be learned here is to focus on making business decisions that are best for the real estate and operation of that real estate.

With their expertise, investors can make more informed decisions about which properties to pursue, helping them assess potential return on investment.

If they perform poorly, you are out the rent income or their paycheck, and you have to pay to fix the problem.

For example:Task              Estimate       % Certain       Low Estimate       High EstimateDemo            $1,000           80%               $800                    $1,200Roof             $8,000            90%               $7,200                 $8,800Construction $8,000         80%               $6,400                 $9,600Misc              $4,000            90%               $3,600                 $4,400--------------------------------------------------------------------------------------------TOTAL           $21,000                               $18,000               $24,000For me this is useful to determine a good deal because if the high estimate is still good I know that even if everything goes poorly it will still be ok.

I'm reviewing my rental property insurance after having gone through issues with the first ever claim on my current policy, which we're finding out has poor claims service and lacks ordinance or law coverage.

We can see where I might be able to help you make some sound decisions as you move forward.

I recently read Rich Dad Poor Dad and I have been bitten by the real estate bug.

The contractor says poor quality materials but that doesn't mean that was true.

She should have let us know earlier (it was over 2 months without getting a reply from her).Like many professions there are good appraisers and poor appraisers, but my experience is even the good appraisers appraise refinance homes conservatively (but find decent comps to justify their appraisal).Good luck