Gains within this account are tax-free if rules are followed, but avoid prohibited transactions to maintain account integrity.

Knowledge is power:Thorough Inspections: Minimize surprises with detailed inspections and due diligence.Strong Screening: Careful tenant selection reduces vacancy and headaches.Diversification: Spread your investments across different locations and property types to mitigate risk.Financial Planning: Maintain a buffer and choose financing options that fit your long-term goals.

@David Putz I wonder if someone is maintaining a list of where all the servicers are licensed...I can't imagine that would be easy to keep track of, but I don't know how often they would change.Having a resource that has all the typical fee info and service states for each servicer in one document would be amazing.

To thrive in real estate investing, you must maintain a firm grip on your finances.

You need to maintain a fund to handle those unforeseen expenses

There are also additional costs of operating and maintaining an LLC, like separate bank accounts, annual report filings, tax filings, etc.2.

.- Your maintenance and repairs will be mostly limited to the interior of the property as the condo management will maintain the building- You won't have to worry about tenants maintaining the grounds around the buildingCons:- Condo fees may change drastically over time and it's largely not in your control- Condo bylaws can be tough to work around.

To thrive in real estate investing, you must maintain a firm grip on your finances.

But because the duplex unit is smaller it is easier to maintain.  

Common advice I've received from other landlords is to avoid them because they often leak or fail and are difficult to maintain.