If you don't have the tools to do this on your own, you need someone on your side locally who has access to contracts and knows local laws and regulations.

Note investing by nature changes greatly from year to year in terms of laws and regulations.

A couple that I deal with have hired compliance officers to deal with the regulations.

You need to take the time now to study/learn all your state landlord tenant regulations.

We then had to go through the tedious task of updating to CC&Rs so that any regulations had to be approved by the board.

You understand the real estate laws and regulations. 

Though I'll also be the first to admit that the great ones are few and far between - the barrier to entry to become an agent is loo low, and we do not do a good enough job regulating our profession and weeding out the bad apples.

Any one who guarantees any type of return is surely not compliant with SEC rules, guidelines and regulations

They just pulled back the regulations on small lending establishments. https://www.thebalance.com/dodd-frank-wall-street-reform-act-3305688

It's kind of cool as I get to see accounting in real life.In regards to your questions l, the IRS issued new regulations about capitalization of assets, and capitalization falls into four categories, Betterment, Improvement, Adaptation or Restoration.