By doing this, you’ll avoid any surprises down the road and ensure the deal still makes sense for you financially.

I am here to tell you ways to avoid this from happening!

This will help you assess the value and avoid surprises down the road.12.

Also- please note that most first time flippers need an experienced partner or trainer to avoid these pitfalls and to be successful. 

Yeah when I was considering my own backyard, I was trying to avoid cities that required relocation assistance, and other weird laws.

@Ajay Bodas Transferring a 1031 exchange property from a revocable trust to an LLC can be done, but timing is crucial to avoid IRS scrutiny.

I am interested in the legal aspect of the transaction.

I bought a single family because I thought I could house hack in the same way as a duplex and in ways it certainly could have and did work but I didn't expect the relational aspects of having people living in a property I purchased.

Avoid it until you get the investor ball rolling.  

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