From one of our sales, We were also advised that if this property sells to a third party at a sheriff sale, and we cannot provide the department of revenue inheritance tax lien certification, the Allegheny county sheriff will not issue the deed until they receive a copy of the lien certification. 

If a major expense comes about (i.e. roofing repair, hvac, etc) we would split that as well.

With your saved capital and no major obligations like high rent, you’re in a good position to make a smart move.

With our town and maybe yours, any major alterations (work over 50% of the property) will require updating sewage and plumbing to the main line <- this is quite expensive and luckily we didn’t need to do this.

Quality photos are important .Yeah, building sciences aren't generally a major topic on this forum.

Majority of the NYC real estate companies uses it.

So I would tell you that 2-5 rentals is a piece of cake to manage - even if working full time (we kept 2 corporate jobs until we were up to 20 rental units.)The other thing I would tell you is that there are MAJOR control differences between being a limited partner in a syndication - where you are more akin to a passenger on the bus which is your investment, versus full control of everything when managing your own rentals.  

hard money can only be used for investment unless its a departing bridge in most cases 

It's also worth mentioning that it's better to consult the CPA BEFORE you make a major decision (buying, selling, converting to rental, etc), since that's when you still have the opportunity to strategize and structure the transaction in the most tax-advantageous way. 

Hi Elvis,You will need to fill out a construction permit if you are doing a major renovation, which requires an inspection from the city to ensure the code is followed.