But is there a requirement that you need to full fill before making your first post?

Although, some of the information was not required either time and some was required both times.

., mortgage interest and property taxes) requires careful allocation.

Its a great idea, but you will need to consult the township in order to understand their requirements for liveable space.

Maintain detailed records to substantiate deductions for materials, labor, and expenses, which can significantly reduce taxable income.While an S-Corp provides tax savings, it also requires payroll management and compliance with formalities, making it essential to stay organized or consult a tax professional for ongoing compliance.This post does not create a CPA-Client relationship.

Making money in real estate requires experience and starting with no or little money makes you study harder.As much as most of us probably wished for it, getting started with a lot of money in your pocket is a recipe for disaster: the temptation is to make the deal work by throwing money at it.If you want to go into real estate go with a syndicator with a good track record.

Mainly the panel is in the basement and it would require a ton of work and paying for labor hours + repairs. 

Hey Deirdre,To address your questions:Providing freedom by handling day-to-day operations.Offering peace of mind through proactive maintenance and tenant communication.Reducing risks by staying ahead of legal requirements, tenant screening, and dispute resolution.Enhancing the bottom line by identifying cost-saving opportunities while ensuring tenant satisfaction to reduce turnover.Is the experience still important when the property thrives financially?

You should always require them to add you to their policy as "additional insured" or "additional interest" and you will be notified if they cancel or change their policy.

If one partner unconditionally guarantees the debt, this can sometimes require some side room guarantees to that partner to ensure no one recognizes a capital gain.As a few others have alluded to, there is a secondary problem known as a "debt financed distribution interest expense."