I always collect social security numbers, driver's license numbers, date of birth, etc.

Our systems have caught people using SSNs from deceased people or the SSN indicates they are 2-3 decades older than their driver license birth date.

By and large, QI's have very high ethical standards, and are sometimes overlooked as the engines of this tax saving tactic.]REPUTATION MARKERS 📊INDUSTRY STANDINGMembership in professional organizationsLeadership roles in FEAEducational contributions to the industryRelationships with major title companiesCLIENT RELATIONSHIPS 👥Testimonials from CPAs and attorneysReferences from title companiesLong-term client relationshipsTransparent fee structuresRELATIONSHIP RED FLAGS 🚩Overly familiar with your realtor/brokerKickback arrangements (illegal!)

@Victor Yang To use the rental losses to offset any active income (W2), you'd have meet Real Estate Professional status (which would be difficult to do with a W2 job because you'd have to work more on real estate than any other job to qualify) OR have an AGI of $150K or less.

I've painted more walls, ceilings and trim work than I could ever count in my lifetime and *I* suck compared to professional painters, and most of my paint jobs could pass for lower-end professional jobs. 

Real Estate Professional = 750 hours and more time on real estate than anything else.

@Sofia De Santos Tavarez if you haven't already, have the property professionally inspected.This should catch MOST of the structural, health & code issues - but not all.

Do you have Real Estate Professional status?

As someone who manages over 1,200 properties, I can tell you that proper screening is where professional property managers (PMs) really shine.Here’s why working with a professional PM is worth it:Screening Expertise:Fraud in tenant applications is more common than many realize.

Looking to get into flipping projects preferably in the western suburbs