The challenge here is making the home ready for their business type AND finding the RIGHT operator. 

Sometimes I question whether there is some real estate investor challenge I am unaware of where investors actively try to one up one another with new ways to toss their money down the drain. 

For some, the potential growth and lack of state income tax might still outweigh the challenges, while for others, the high property taxes are a dealbreaker.

Our team works with a lot of out of state and out of country investors and most state that Pittsburgh is one of the best markets they invest in due to the more predictable nature of our market (we don't have the bubbles that many of the larger cities do in regards to housing surges and bursts).

To avoid any confusion, this is not the same thing as ( “home sharing”, or an “owner-occupied rental.”)Improvements generally need to be depreciated over 15 years, note I said generally, depending on the nature of the improvement and how long the IRS standard depreciation period is for the cost and size of expenses.Strategies depend on a number of things including, but not limited to: type of property, your material participation, how long you plan to hold it, your goals.

This is particularly important as you acquire more properties.Transferring the Property: If you're thinking about transferring your current rental property into an LLC, be aware of potential challenges that I have personally seenMortgage Implications: Check your mortgage agreement for any clauses related to property transfer.

It just goes to show that challenging yourself and pushing the boundaries pays off big time.

The biggest challenge, more than handling maintenance, is managing tenant relationships and understanding the legal responsibilities.

Compared to other parts of the country, in my opinion it's definitely more challenging to find good deals here based on everything you mentioned. 

In 2020, we took on one of our most challenging deals in Hudson, NH, where a woman reached out, desperate to sell her home and escape a troubled marriage.