There are far too many regulations, the transaction is a much longer process, and we are talking about someone's biggest purchase.

They claim only 2-3 percent of the companies are audited so the more clientele they have the percentage of audits will be less even if they make some calculated risks.Few Deductions they highlight which you can get with proper planning and right CPA.1) 119A - Revenue stream bifurcation2) Augusta Loophole 280A - use primary residence for 14 days of business and pay you back without tax implications.3) Paying your medical and children education fee using c-corp4) offcourse the famous charitable llc - another program and package.Thanks for the insight.

Looking back on your earlier projects, what were the biggest mistakes or lessons learned in securing funding or managing build costs?

Fro the biggest reason, as you said, you own the home for the Best, First years of its life. 

My biggest desire is to have RALs.

The property is in the Joshua Tree market so the next couple of months is the tail end of peak season and will start to slow going into April/May, so I'd like to be ready to operate as soon as possible to capture max revenue before summer. 

The biggest employer shut down about a year ago and 3  hurricanes (2 major) hit directly in the last year.

Last year January MN enacted the biggest # of changes all were added details and raised the bar of requirement for Landlords, including some specifically detailing how a listing must be detailed.

You hit on a tough reality.. inheriting tenants who aren’t prepared to pay on time can be one of the biggest curveballs for a landlord.

I work with investor who find deals to cashflow day one, in markets that are growing both in population and jobs where the appreciation is obvious.By far the biggest step in REI is taking the first step and getting a REI.