And if you're serious about looking in a market, get the newspaper every day.

My understanding is if you inherit a property you get a step up in cost basis. 

Also, can anyone recommend a solid accountant for everyday investors who can provide reliable advice and is reasonably priced?

@Basit SiddiqiAgree for example would you rather have 13% net but deal levered 75% or a deal no levered at 8% net.On a 100k investment I would take the 8% deal every day as I will gladly pay an extra $5,000 to reduce my risk substantially since in option 1 the deal can go to zero in option 2 realistically it would be really poor management if it lost more than 10-15% of your capital.

(not the $470k from the past...what you expect on an annual basis going forward)The sum of those three annual items is the numerator in ROE (the "Return" portion).Divide that by your Equity which = $469 ($850 property value - $381k current debt)

I look at the MLS in my target markets every day, sometimes twice a day.

@Rich Emery if you're not EXTREMELY organized, you'll spend every day with your "hair on fire", making critical mistakes that cost your clients - and you'll get burnt out.Don't forget to research the licensing requirements of PMCs. 

Before I bought it I was buying real estate giving myself and my daughter something to do, my lily girl (Alice kate) was disabled and a single father it gave us something to look forward to every day rehabbing apartments, I started doing some research on turning a small complex into something for her and design it for her wheelchair in case something would ever happen to me, she would have her own place ,in my research I seen assisted living facilities and thought thats what she needs something with nurses. well I found this 4000sqft building and it was an ALF I made the owner an offer and bought it!

You're losing money every day (which you can go after the tenants for). 

Over the years I'd continue to like to buy more house hacks, get my RE license and (depending on the market) acquire a few duplexes/multi-families all on a slow but consistent basis.