Hoping to pick your brain and hopefully collaborate.

At this point, I'm simply trying to clarify and prioritize a plan of action to get the legal, accounting, and tax planning aspects up to snuff.

In most cases, incidents like this are crimes of opportunity, not planning, so even if you take steps to get information prior, it isn't a certainty that you'll be safe. 

My goal is to foster a collaborative environment where we can share experiences, strategies, and tips to help each other succeed.Looking forward to engaging in meaningful discussions, learning from your experiences, and contributing my knowledge to help others grow in their real estate endeavors.

Hi Appy, when dealing with older homes, prioritize thorough inspections to uncover any hidden issues.

So one of the reasons I like managing my own properties is I can vet the tenants myself, not only screening criteria but in one of my units I had someone who contacted me, and frankly her credit score was below my criteria but she reached out told me she has two kids and really loved the unit and she’d be sure to make the payments, I decided I’d at least show her the unit, and when I met her she was super sweet & I could just tell she would take good care of the place and really prioritize making her payments, and I was right even the few times she’s been late she’s apologized and has never missed a month of payment, so I’d self manage your properties in the future & I think if you know how to both screen & read people you’ll do better than with a property manager.

There is a certain priority and very likely the insiders have themselves listed in away to make sure they are prioritized. 

Think owner-occupied 3.5% FHA loans or 5% conventional loans.If you're looking to acquire stable assets to use as cornerstone properties that support your with cashflow from day 0, then you might consider putting more money down to make sure that the rents adequately cover the mortgage costs.Typically speaking, sellers will prioritize offers with higher down-payment amounts (all other terms being equal) because it shows that the buyer is more invested in buying the house and more likely to close on the property.Hope that helps!

TksI don’t think location necessarily matters provided the tax pro has strong background in Real Estate And software to make it easy for you to collaborate.

(Told you I am a scientist/engineer)So now you have a winner, that is FACTUALLY and 100% accurately based on what your priorites are through a scientiific and data-based model.