What plan does the buyer have in place for set backs such as real estate market down turn, major repairs etc.

There are new laws affecting California transactions in 2024, some of which are very relevant to investors and house flippers.According to the California Association of Realtors, starting July 1, 2024 most 1-4 unit properties that are resold within 18 months (aka flips) must disclose:- repairs, renovations, room additions and structural modifications that were performed by a contractor with whom the seller entered into a contract- the name and any contact info for the contractor for any work over $500- any permits obtainedSo you still can be an HGTV star, just make sure you do it by the book. :)Have any of you flipping in the Los Angeles area been affected by these new disclosures?

My property manager is declining to provide a receipt of the repair that he/she conducted.

Add at least $3k per year to any repair and maintenance expense you’ve assumed in your expenses calculation 6.

You won't know the ARV correctly or the repair costs so your budgets will be crap.

Depreciation helps reduce the taxable rental profit, potentially bringing it to zero or even creating a loss, which can carry forward to offset future rental income or other capital gains.For high wage earners, other tax strategies could include leveraging cost segregation studies to accelerate depreciation on rental properties through bonus depreciation, taking advantage of tax-deferred exchanges (like a 1031 exchange), or maximizing deductions related to property expenses (mortgage interest, property taxes, insurance, repairs, etc.).

You should only do cosmetic repairs.

This is a "repairs".   

There is always the risk that after you do the repair, the the system fails quickly after that. 

The repairs required by Section 8 after the initial inspection were pretty minimal, but I've heard that there are grants and certain lending programs that were available for Section 8 landlords (such as the Community Investment Program).