Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

@Sendil Thangavelu you really need to hire a professional property manager or real estate attorney to help direct you in the right direction from now and the future

Rufo  Also consider the fact that when you switch from STR to LTR or the other way around, you will need your CPA/tax professional to do the IRS' 3115 change of accounting form to go from 39-year depreciation for STR to 27.5-year depreciation for a LTR.

And some of us been replying back yes there is, just where they are, how to get them, has changed a bit and it's no longer as simple as closing your eyes and randomly throwing darts at a MLS map and buying whatever. yes, those days are long gone but if your willing to roll-up the sleeves and get professional at it, there is "deals" all over the place, you just gotta get skilled on how to find them, tap them, monetize them. 

Readers should seek professional advice.

People think it's inexpensive to install a Washer & Dryer, but getting the gas, electrical, water, and drain/vent there is usually quite expensive.Here in Chicago, we always want to be at the top of the market regardless of the competition, so we almost always install a W/D when we renovate our properties, even in some of the less desirable neighborhoods.

That easy question to answer will be a really great litmus test in your due diligence toolbox.If you are evaluating a REIT, it would be wise and prudent to do your homework and select the appropriate professional to guide you.

As long as one person is a real estate professional, you can usually use rental losses offset joint income.

Readers should seek professional advice.

Readers should seek professional advice.