We bought a home via probate a few months ago, be prepared to get scrutinized on the price by the judge.

That's why the first element in a quality study is preparation by an individual with expertise and experience.

I would just put a few more snap traps around, seal the holes to the exterior that the mice are using to get in and out (sprayfoam is your friend for this), and make sure the tenants remove any food or trash, water, whatever is attracting them.

This is cut-and-paste from our doc request packet...PREPARE YOUR ENTITY DOCUMENTS: The great thing about investor loans is that once we have the basic documents from the borrower, we simply need to make sure they are current and updated periodically.

After we paid, I reached out to another STR owner who recommend her tax preparer.

A 200lb professional athlete is going to be more fit than an 200lb desk worker that eats fast food every meal. 

I always have my attorney prepare the documents.  

But yes, you should have a CPA, and the one smart enough to properly prepare your taxes over the years should have an easy handle on this too.

My "guru" has shared some thoughts on that, but I'm interested in additional opinions.I'm not afraid of hard work, but I'd appreciate any thoughts on what I need to be prepared for if I head down this road, as well as opinions on the risks I'm signing up for.

Tax preparers usually charge another $500 to prepare the 3115 calculation schedules per property so that saves you money.