I also have a friend that bought brand new construction, but had to shell out tens of thousands in repairs because the home wasn't built properly, the inspection didn't catch the issues, the builder didn't have a warranty on the property, and insurance didn't cover all the problems.

Take ownership of your mistake and learn to do the proper due diligence recommended above😊

Proper time tracking and logs are critical for demonstrating compliance with this rule.I've only seen one person with a W-2 qualify for reps, and that was from a tax court case where people had to come in in person and attest to his hard work.

Make sure the estimates are very detailed (scope, SF, $/sf, schedule, etc) to ensure that there is a clear dilation between contract work and change orders.

Take ownership of your mistake and learn to do the proper due diligence recommended above😊

To ensure my replacement property value is at least $600k, I was considering putting the remaining $100k into a DST.

The high HOA fee is already a factor, so ensure you’re comfortable with the overall carrying costs.Focus on the Land Value: Since the lot has development potential, you’re looking at this as a long-term investment.

Overall, for every type of property....I would say that keeping up with proper maintenance is what most people neglect.

That ensures you don't spend it on other things and know exactly how much you have to spend on the next purchase.

Obviously they are putting more pressure on out of state investors that invest within Cleveland proper, but spreading liability to the property manager is a new twist.