Biggerpockets has a ton of free accountability groups which will keep you on track for your first investment and also teach you along the way! 

But don't let regulations deter you, a harder market to enter in theory mean less competition since most don't want to track down and follow all the regulations. 

I used it to track several properties.

No but keep track of those repairs as it will add to your cost basis when you go to sell it and have to pay capital gains.

So I committed to tracking everything throughout the year.

Also, make sure this wholesaler has a track record.

.: Stessa isn't good for keeping track of tax deduction items.Stessa was designed to just look at P&L.

Syndication Reporting IssuesMissing Form 8918 for reportable transactionsInconsistent investor disclosuresRequired registrations skippedWhat Doesn't Actually Matter:(Despite What Your Uncle's CPA Says)Special AllocationsNormal promote structuresStandard waterfall provisionsTypical developer promotesReality: Unless extremely aggressive, IRS rarely caresTechnical DocumentationMinor §704(b) gapsCapital account glitchesTechnical allocation languageTruth: Unless hiding something biggerProperty Value AllocationsNormal basis step-upsTypical appreciation splitsStandard promote calculationsReal World Example:🏢 100-unit apartment complex4 partners, $5M dealDeveloper promote structure= Zero IRS interestSame Deal With Red Flags:🏢 100-unit apartment complexHidden partner arrangementsArtificial loss allocationsUnreported debt shifts= IRS AttentionPractical Protection Steps:Basic Documentation✅ Clean operating agreement✅ Economic substance✅ Partner contributions tracked(Don't need War & Peace complexity)Economic Reality✅ Allocations match economics✅ Real money movement✅ Actual partner participationClean Reporting✅ Consistent K-1s✅ Required forms filed✅ Clear communicationThe "Sleep Well" Test:Can you explain your structure to an IRS agent without sweating?

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Just like professional athletes who still work with coaches to hone their skills, a real estate mentor or coach can provide you with valuable insights, shortcuts, and strategies that can help you avoid mistakes and fast-track your success.