(Inspectors are generalists, so specialists are essential for plumbing and electrical issues in older homes.)Structural Concerns: If potential structural damage is spotted, hire an engineer to assess it properly.Be Diligent and Proactive: Old homes often require extra due diligence.

What is Real Estate Professional Status?

@Dean GulloTo build connections in Southington and surrounding areas, join local real estate meetups, connect through BiggerPockets forums, get involved with local landlord associations, reach out to real estate professionals, attend town or community events, and expand your team.

We did 'win' one at auction that I could not enter without my eyes watering & dry wretching, but the young couple I hired to gut it had no problem.

We pay a few hundred dollars for a professional quality pitchbook with the financials and that has been money well spent.

@Paul BogardTo rent out multiple bedrooms in Philadelphia, understand zoning regulations, consult a knowledgeable real estate agent, hire a property manager, and consider multi-unit properties, student housing, and co-living spaces.

Great advice, I found that the professional photos and doing the rehab slightly above the competition really seemed to help as I had almost 0 vacancy! 

Depreciation can create paper losses to offset rental income or passive income, and qualifying as a Real Estate Professional (REPS) or STR loophole can allow losses to offset W-2 income.This post does not create a CPA-Client relationship.

. :)  I am hoping to network with all relevant professionals in the field...especially like minded investors in my local area.

We had the plumbing break down and had to install new PVC plumbing Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?