You most certainly want to research the process in your jurisdiction because it is vastly different area to area, especially as it pertains to one, how real estate passes through the estate and two, how the process is properly recorded in the Real Estate records in that jurisdiction.For specific questions on the filing process and where to start, most probate courts offer great information on their websites or, just by giving them a call if needed.

@Jenny Tang In addition to making sure your CPA understands the tax laws as they pertain to real estate, I would also encourage you to find out if your CPA actually invests (and invests well) in real estate. 

I will most likely be obtaining general liability for accidents not pertaining to myself or my sub-contractors' employees.- CPA: get with a CPA BEFORE!

Written by attorney investors, it's full of practical advice pertaining to management of investment property, has sample forms that can be edited, and - most importantly - they tell you what your primary state laws are and where you can read them.

Anything pertaining to the rental should be tracked separately, as if it were a rental on another property.

It is important for property owners to consult with legal professionals to draft a clear and comprehensive power of attorney document that explicitly outlines the scope of authority granted, thereby ensuring that their interests are protected and that the appointed individual has a clear understanding of their responsibilities.Property Management Agreements:When property owners decide to enlist the services of a property management company, they enter into an agreement that typically encompasses various provisions, one of which pertains to lease signing authority.

I am not sure what the exemption for 3 or less houses pertains too still?

I am not new to commercial financing as pertaining to running my business, but have a lot to learn about what the banks are looking for the increase my multi unit acquisitions as well as what fixes add actual equity into a property. 

We are a college town (CU) so there is a density issue, mostly pertaining to parking.

@Damon Armstrong it depends on how you buy and sell.It's best to look to the RE laws pertaining to licensing and see what activities requires a license, if you don't hold a license don't do those activities.It's rather natural when someone reads law that they try to twist or scheme their way through the literal written word to avoid legal issues, laws can be broadly interpreted in your area.