Be sure to consult with your CPA to determine if you can utilize these deductions based on your specific tax situation.

Thanks The income approach is generally utilized for 5+ units.  

Building a network here can open doors to partnerships, mentorships, and local insights.3.Explore the Blogs and Podcasts: BiggerPockets has tons of content—blogs, podcasts, webinars—that cover everything from beginner strategies to advanced investment tactics.4.Utilize the Deal Analysis Tools: If you’re considering an investment, the deal analysis calculators are invaluable for running numbers and understanding potential returns.5.Set Clear Goals: Define what you want to achieve, whether it’s learning a specific strategy or connecting with certain types of investors.

Utilize other people's experiences.  

If there is one thing I would do different is: I would invest Out Of State in markets that had sustained growth, strong job numbers, were safe and desired, and had favorable Landlord laws. 

This isn’t just about bookkeeping—it’s about setting yourself up for sustainable growth.Many investors use a basic system with at least five accounts: one for income, one for operating expenses, one for taxes, one for marketing, and one for reserves.

Make sure everyone knows a cleaning schedule, expectation for common areas, how are you splitting utilities, guest policy, etc. 

Shared laundry meant a fifth utility meter and high water costs that I paid.

If you buy in such a city, you are almost guaranteed to have limited appreciation and rent growth.If a city has significant and sustained population growth, then the current housing supply will be insufficient and prices will rise until the demand (the number of people willing and able to buy) roughly equals supply.Rental rates are closely tied to property prices.

Use STR-specific insurance to protect both parties and automate operations with platforms like Airbnb, TurnoverBnB, and PriceLabs.Taxable income from the STR must be reported, but you can deduct related expenses like cleaning, utilities, and furnishings.