However, those areas are likely to generate the most competitive field of tenants to select from and you may have less turnover, saving you valuable repair costs and vacancy time.

If you don't do the homework, you will give them the impression you may not be up to doing the homework with real estate investing.

If the report is much shorter, the company may have cut corners or you may be lacking proper documentation.What other things do you look for when selecting a cost segregation company?

Rehaan - Your question is dependent on several factors, all of which are very important to consider when selecting a property you wish to flip. 

I complemented it looking for more documents at the IRS site with Lance’s words and it was extremely helpful.Indeed, a multimember LLC can select how to be taxed sending a form to the IRS and, If taxed as a partnership or corporation, not be subject to FIRPTA because it is not a flow through entity (for this tax withholding purpose ) anymore.Anyway, I want to have a meeting with a real estate experienced CPA in the DFW area in order to clarify any details and establish an LLC with everything covered.

To avoid going through the same poor experience, keep reading.Even if someone gives you a referral here, do NOT make the mistake of assuming that the PMC will meet your expectations, just because they met the expectations of the referral source.In our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.It's often a case of not doing enough research, as they don't know what they don't know!

@Britney DearEven if someone give you a referral, what meets their expectations, may not meet yours.In our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.It's often a case of not doing enough research, as they don't know what they don't know!

Right now, you're basically trying to select a college for your future child before the child is even conceived.

As far as advertising with BP or any other place, I think that as long as you are open and honest with people about your experience the customer will make the decision to select you or not.

I got the impression it was a Fannie thing, not an individual investor thing, but I haven't probed any deeper with him yet.