I was doing a lot of legwork and still paying RE agent for the transactions up until got my own license.pros: no commissions in your transactionseasier qualification as real estate professional to offset high W2 of spousecan get access to any house/ easy logisticsmore control in the transactionMLS access with all the information on tip of your fingers, you can move fast with the deallicense knowledge helps to make better decisions and gives broader understanding of the industrycan legally do property management for others, wholesale (many states now making outlaw to do it without license)cons:need to take an exam (it needs preparation and to be good not just barely pass you need to study)fees you pay along the way (MLS, brokerage(I signed with investor-focused on and have a monthly fee and a transaction rate))self-management including taxes and feesneed to relicense + paid education Don't forget the biggest con.

Keep studying these resources and by the time you're in a position to purchase, you can be sure you're ready to jump on the right deal when it comes up

In the lease agreement, I would also add a clause that any "call outs" will require the tenant to pay for the repair/fix (unless they or handyman can conclusively prove that the landlord should pay for whatever is broken or is in need of being fixed).

I'd imagine this falls into the "normal wear and tear" category but I just don't know how you measure or prove it and how much tangible evidence I need to have ready showing that I've warned them repeatedly.  

You might have to take them to court to prove it wrong. 

Prove that he doesn't.

Additional concerns include area study, property inspection, knowing local market circumstances, and legal adherence to Philadelphia's landlord-tenant rules.

I have never invested in real estate, and if I get Europe, what do you recommend I start studying (legalities, policies, trends) and where can I find the necessary resources/education to prepare to look for deals in Europe?

Ever study glamping?

For reference, see: https://portal.ct.gov/-/media/drs/publications/ocg/ocg5bonus...Is there an exemption to this rule or can bonus depreciation from a cost segregation study be applied via a different IRC code?