(It doesn’t pay its own taxes.

Mgt, Landscape/Snow, tax, insurance, utility then debt service. 

Give your state's 'cure' term ("In New Jersey, a tenant has three business days to pay rent and court costs after a judgment of possession is issued to avoid eviction.

Regulations & Compliance: What's the best way to research local STR laws and avoid potential regulatory issues?

My ultimate goal is to build a portfolio of cash-flowing properties to achieve financial freedom.I’m currently seeking mentors who can guide me through this journey and help me avoid common pitfalls.

Just ensure you do thorough market analysis to avoid pitfalls.3.

Someone can be a brilliant tax person but horrible to work with, and also vice versa. 

Beyond immediate safety concerns, the long-term financial implications, including taxes, are a pressing issue for those impacted by the disaster.

Taxes, costs, eviction complexity, etc are going to be a much bigger factor in your success than anything else.

While each person has their own perceptions of a rough part of town, in my experiences, I do avoid them.