Obviously there are risks if I get laid off and would loose all the tax savings and be paying out of pocket for the property, but are there other things that I should consider?

I think you run a real risk of your second rental eating up the profits you're enjoying on the first one.

And What other conditions/terms/costs do you calculate when underwriting the potential of a deal?

The longer the development cycle, the more risk on the LPs, the higher the return.

If you have someone funding the entire deal, you have ZERO risk in the deal and get 50% of the profits - run with that.Lets look at it another way.

Since you’re already networking and have some good realtor contacts, focus on narrowing down your investment strategy (like buy-and-hold or house hacking) and target markets with solid cash flow potential.

Hey Deirdre,To address your questions:Providing freedom by handling day-to-day operations.Offering peace of mind through proactive maintenance and tenant communication.Reducing risks by staying ahead of legal requirements, tenant screening, and dispute resolution.Enhancing the bottom line by identifying cost-saving opportunities while ensuring tenant satisfaction to reduce turnover.Is the experience still important when the property thrives financially?

Obviously there is risk involved (as with anything).

Hi Mia, Great suggestions for questions to ask a potential tax professional!

And any risk of messing up due to ignorance.