We learned how important it is to rebalance tests, which is something that is often missed but is essential for long-term success.

Building a strong foundational knowledge base is essential, and you can achieve this by engaging with communities like ours here or by joining your local Real Estate Investors Associations (REIAs).

What are the best essential resources?

Most real estate agencies have a in house photographer but if you ever joined one that didn't ... then you could essentially create secure revenue.Assuming you didn’t want to be an agent.. just an investor then it will save you money by not having to hire anyone to take photos especially for flips.

I think 25k to furnish, stage and stock with essentials (linens, towels, kitchen, etc.)

So, make sure you include all the essentials in the kitchen, laundry, bathroom, and of course amenities.

By reducing your basis through accumulated depreciation, you effectively increase the taxable gain when you sell the property.It's essential to keep accurate records of depreciation, as it can have a significant impact on your tax liability when you sell the property.

One way to look at it, is that the monies you would have paid in taxes could essentially be a down payment if structured favorably.

In both of those situation the land remained whole as one tract essentially owned by the condo association (HOA) while the individual units were sold to individual owners. 

It can also be essential for the buyer, seller, and each of their legal representatives to have a conference call.