You can also write off expenses such as property management, insurance, repairs, etc.

What is the best way that you have found to tell them that you need labor & materials separate, so at tax time you can send them a 1099 for labor?

The biggest form of energy production in Tennessee today, nuclear power, simply wouldn't exist without many, many trillions in tax dollars to develop, not to mention the government stepping up to insure and protect the plants, manage and protect the waste for half an eternity, and clean up the trillion dollar mess in case of another disaster.

Quote from @V.G Jason: BP agents are gutter material.

However, I am unsure on how to go about finding the proper handyman/maintenance guy/management team to help run any out-of-state investments I make.

Quote from @Ronald Rohde: I think it just benefits current owners. our replacement cost variability just went up a lot for the next 4 years. 100%.All cyclical asset classes are reverting to the mean, except the one's with a material short-- naturally. 

The first images of his website did not focus on real estate investments, but materialism. 

@Brice Alef-Torrisi putting each property in its own LLC is usually overkill.Getting a bank account for each LLC is typically something you need to do to avoid "piercing of the LLC corporate veil" (actually depends on tax selection you made for LLC), but is also overkill.You haven't indicated how you are holding the deed for the latest property.If in your name or same LLC, you don't need a separate bank account.If in separate LLC, you can create a Master LLC, have each property LLC hire the Master LLC to manage their affairs, and just get a bank account for Master LLC.This is an opinion, not advice, so lookup CPA Frank Alcini in Troy for expert advice.

Spend more than half of your total working hours in an RE business in which you materially participate.2.

I would have been ok with the latter numbers because I have been stockpiling materials for like two months, but...I did not know if I could trust them due to the lack of "professionalism," and my lack of experience.