Each year, new design trends enter the market, and some others exit.

After 20+ years in real estate partnerships, here's what actually puts you on the IRS radar (and what doesn't):REAL Red Flags That Matter:The Partner Complaint TriggerDisgruntled partner files Form 8082K-1 disputesPartnership disputes leading to tax filingsReal Impact: Instant IRS attentionSuspicious Loss ClaimsLosses exceeding investmentArtificial basis inflationSudden large losses without economic realityExample: $100K investment claiming $500K lossesRelated Party GamesCircular property flipsBelow-market transfersFamily partnership schemes without substanceWatch Out: IRC §267 and §707(b) violationsDebt Engineering Red FlagsBasis inflation schemesArtificial guarantee arrangementsPartner debt shifts near year-endCritical: IRC §752 compliance matters!

I would recommend starting in your backyard and hone your skills if its possible, I know some markets have an extreme HCOL which may make it unfavorable in your case.

Any recommendations for free tools to do market research?

Hi Yael, I am a featured agent from Bigger Pockets in the QC market and can assist with all of your questions.

Be sure to check out the free tools BP provides to help analyze deals you may have and also market insights.

Study the market.

Since the house is for sale, the most important concern is marketability.

Furthermore, @Dave Meyer has a YouTube show/podcast on market trends for your reference.

Stay focused.4.Master your market.