The units were in rough shape before we worked on them, but after the work was complete it turned into a good first investment.

Closing costs, necessary cash reserves, and the expenses to get a property market ready are more than most first time investors think.I have nothing to sell and would be happy to help if you think that I can be a resource.

Q2 is most important: If the mortgaage is upside down, it would have to be an approved short sale and that could take a very long time to rectify.

Depending on the volume you would be submitting, find a company that does not have high monthly minimums and can walk you through the process if this is your first time using.

No reporting required at this time.  

And it has been gaining recognition as a vibrant, desirable place to live, especially for younger professionals and first-time buyers. 

Pull your tenant-landlord laws for your area and arm yourself with as much education as you can about being a first time landlord. 

Investing OOS for the first time, and using a TK provider for the first time.I understand I'll be paying (significantly) more for a TK provider home.

She will get you set up with a consultation.They specialize in High-Level Tax Strategy, using real estate as the primary vehicle. 

You have to be up front about how the property is being used.Also, remember that umbrella insurance will not do anything for you if the underlying property or vehicle is not insured correctly.