Everything was handled in such an organized manner from the initial stage, to end.

My understanding is that if you've given the neighbor written notice of the need to maintain / remove the tree, if it falls it's considered an act of nature (high winds) and you have to deal with it.

Make sure you are highly dedicated and motivated to take action.

The rate will also be high. 

Look for properties with high cash flow potential, good condition, and room for improvement, such as value-add opportunities.

At the end of the lease term, it's a simple as printing that spreadsheet so it shows all itemized deductions from the security deposit.

We simply include the tax on the invoice sent to guests, which makes it easier to track and ensures we're covered for tax purposes at the end of the year.For Chicago, I’d recommend checking directly with the city’s tax office or a CPA, but generally, you’ll need to register with the city, collect the hotel tax from guests, and remit it on a regular schedule (likely monthly or quarterly).

And manage for the investors on the back end. 

Quote from @Jacob Campbell: Hello - After listening to the podcast, I've made a commitment to purchase a rental property by the end of Q2 this year (ideally by the end of Q1).

I highly recommend an attorney to draw one up as each state and each property can have unique issues.