Also, what’s the best way to ensure the area is safe and desirable for tenants?

The best thing you can do is familiarize yourself with Housing Quality Standards (HQS) and ensure your property meets them before your initial inspection.

This ensures the debt reflects only on their credit report, not yours.

Essentially, it was one account with the bank tracking individual tenant details on your behalf.That said, it’s critical to ensure your financial records remain accurate by reconciling the account on a monthly basis.

Work with a 1031 intermediary to ensure compliance and a smooth process.Key questions to ask yourselfWhat’s your long-term goal?

However, ensure you have a solid repayment plan to avoid over-leveraging your home.Focus on long-term rentals that generate steady cash flow and offer tax advantages, such as depreciation and deductible expenses.

Because I'm not an accountant or versed in tax code and law wouldn't I want a CPA to ensure everything is legally tight and as advantageous as it can be? 

If you’re using leverage, be extra cautious with your underwriting to ensure the deal still works at today’s rates.Economic Uncertainty: Inflation, potential recessions, or shifts in demand could affect rents, vacancy rates, and property values in some markets.Increased Operating Costs: Rising insurance premiums, property taxes, and maintenance costs can cut into profit margins, particularly for buy-and-hold investments.Regulatory Risks: Some areas are increasing restrictions on landlords, particularly short-term rentals.

Unfortunately, relying on a "nice card" approach doesn't always ensure that tenants will vacate the property in good condition.

What can I do to ensure there are no surprises after closing and avoid a costly eviction?