@Kyle LipkoRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

Real-life reps, to me, means seeing properties in person, whatever your asset class. 

I'll work with an attorney to assist with drafting that.Q2: Yes, I'll talk to my CPA but we'll most likely hold the property for at least 1 year under the LLC given our timeline to design, permit, build and sell the property, meaning I should avoid short-term capital gains.  

My property has new roof and new sewer and all tenants have renters insurance.

If you have a good property manager:DO NOT SELL!

The property required a full gut rehab as it had been vacant for 15+ years.

Looking to do my first BRRRR out of state and I am wondering what to have on a checklist if I were to have someone go take a look at a property for me.

Then you can trade up to another property where you can force equity. 

Bonus depreciation recapture is based on the year that is placed into services.As of right now, the bonus depreciation for 2024 is 60%.It is not likely that they will change the bonus depreciation retroactively to 2024.If they change the bonus depreciation for properties purchased in 2025, it will have no impact on a property you placed into service in 2024.

Focus on learning the basics of MTRs, including their appeal to traveling professionals and the need for furnished properties.