Understanding the risks associated with any investment, being prepared for the worst possible outcome, and having a plan for when an investment doesn't perform as expected is essential.

I'm much better prepared for the future.Thanks again Chris!

I’m self managing myself but the tax side of it is a little confusing to me but I’m recording everything involved as far as maintenance, traveling, expenses etc. just want to know what some people would do in my situation or what to I can benefit from come tax season  @Angelo LlamasI recommend that you find a real estate accountant to help you understand and prepare your taxes.Bigger Pockets is a great place to find a real estate tax accountant. 

Title company will need formation docs, and operating agreement to prepare deed and title docs and lender will need formation docs and operating agreement for lien search and loan docs.

@Max NathanInvesting in Alabama from Miami is absolutely doable with the right preparation.

Projects give us visibility on my projectsMy CPA can easily access the reports for tax preparation.

And preparing a building site and installing a driveway are further considerations if I even decide to build something there.

During the renovation phase, adhere strictly to the scope of work and budget, conducting regular walkthroughs to monitor progress and ensure quality.As the project nears completion, prepare for sale by staging the property to highlight its best features and create buyer appeal.

You'll have to get a contract prepared by an attorney.

You will likely be annoyed if you get a request for 4 rooms when you have just filled a single room, so be prepared for that.2.