Our first handful of deals did not really have a value add component but we both realize that is the next logical step. 

I will take a crack at that book as I am realizing perhaps out of state investing may be for me.

But realize you will likely want to move back.

But even as I type that, I’m realizing that I’m already falling prey to the “units” measuring stick of success.

However, MANY buyers do not realize that state inheritance taxes need to be paid on the property.

- I realize that this maneuver will likely increase the risk of audit....curious to get a sense of how much more risk of audit I will face and does the IRS typically just audit the one year or would they dig into previous years as well?

Since you are just graduating college you may already realize that it's not what you know, but who you know (as a personal note, I had college friends that were barely passing their classes however they ended up with really good paying jobs due to "who they knew").

After starting out private money lending for a few months I realized I needed to own property. 

You want make sure all the people you know realize you are now an agent. 

After being burned more times than I care to admit to, I've realized I'm a business, not a charity.