You are investing in real estate with the hopes that your tenant will have a voucher, if that's what you want.

True, converting a personal Schedule E to a partnership will indeed reduce your IRS audit chances, statistically speaking.

I assume that will add at least $7k in value and you’ve been “made whole”. 

@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?

@Matthew McleanBigger Pockets is a great place to find an accountant specializing in real estate taxation.A good real estate accountant can save you thousands of dollars by leveraging entity selection and formation, tax deductions, cost segregations, bonus depreciation and tax planning.I recommend finding an accountant specializing in real estate taxation, business taxation, financial planning and tax planning.Consider working with your accountant remotely to expand your options.I would also recommend looking for an accountant willing to work with you throughout the year.

That will prevent scuffing the paint making touch up necessary. 

You will not need to join CAR/NAR and I offer super high fee splits.  

@Brandon TylerThat’s an exciting step—getting your real estate license will open up so many opportunities to learn and grow!

They will let you know what you can and can't do without a permit and what you are able to do yourself within the scopes of those permits.My concern is because this is a rental, if you do anything that is not to code and the tenant reports it, you will likely have some much bigger issues to deal with.Given you note this is major rehab, I tend to lean to hire most, if not all, out. 

If I’m doing the rehab alone, it will probably take me 6-8 months to complete.