Also, there’s much to delve into on of those scenarios, like what type of cashflow or investment do you want, etc. residential, multi-res, small multi-res, commercial, industrial, etc.There seems to be fewer deals around these days and this typically benefits the more experienced and skilled investors but there are always multiple investors that get “tripped-up” in these markets due to them relying on recent “fortunate” market circumstances only to realize the markets cycle and they weren’t prepared or didn’t underwrite properly to account for unforeseen potential.There are more considerations, but this is a start.

Have a list prepared around a nice area of houses that you have selected that will fit your criteria....maybe see the insides of one or two?

The replacements often lack the experience.If you're looking for tax preparation only, without tax advice, then the worst times to look for a CPA are March-April and August-October.

We are preparing our schedule to start visiting, and we sre planning to start with Rochester!

Some IRS agents may still require filing Form 1065 for 2024, so be prepared to file for this year before transitioning in future years.For Question #3 on Form 8832, you are correct that it asks whether the entity has more than one owner.

And yes hurricanes are not that common but I should be prepared@Stetson Miller good point about finding a good HOA.

WARNING: if you do not prepare for this, you can enter a death spiral: deteriorating properties lead to lower rents, worse tenants, more wear and tear, even less cash flow to fund repairs and ultimately erode asset value.I do not mean to rain on your parade, hopefully, this is a helpful long term perspective. 

I’m committed to keeping my options open and continuing to learn about being a landlord to ensure I’m well-prepared for my first purchase.To improve my ability to analyze deals, I’ve developed a two-part plan:Join a local BP meet-up group to discuss my goals and support others.Continue learning and engaging with the BP forum.Thank you again for your guidance—it’s truly appreciated!

Also, as I prepare for estimates, would be helpful to know where my in year deductions actually are.  

I am tired of preparing for the worst... preparing for the worst is killing me slowly and I might not ever make it to experience the best.