I think the biggest lesson learned (other than my failure to buy bitcoin instead) was to ensure I had a solid cash flow plan to implement the vision.

For LLCs that are required to file and don't -> IRS failure to file/late filing penalties are $70 per member per month.

Many OOS investors set themselves up for failure because they don't invest the time to ACTUALLY understand:1) The Class of the NEIGHBORHOOD they are buying in - which is relative to the overall area.2) The Class of the PROPERTY they are buying - which is relative to the overall area.3) The Class of the TENANT POOL the Neighborhood & Property will attract - which is relative to the overall area.4) The Class of the CONTRACTORS that will work on their Property, given the Neighborhood location - which is relative to the overall area.5) The Class of the PROPERTY MANAGEMENT COMPANIES (PMC) that will manage their Property, given the Neighborhood location and the Tenants it will attract - which is relative to the overall area.6) That a Class X NEIGHBORHOOD will have mostly Class X PROPERTIES, which will only attract Class X TENANTS, CONTRACTORS AND PMCs and deliver Class X RESULTS.7) That OOS property Class rankings are often different than the Class ranking of the local market they live.Class A is relatively easy to manage, can even be DIY remote managed from another state.

Warranty for dock failure? 

Do some failure or sensitivity analysis.a. 

Collin, What are you seeing as common failures on these inspections so far?

If I were to give a percentage chance of failure to each I would say 20%, 30% and 35%. 

Therefore, I figured I would come here to engage with professionals who actually do have a good amount of experience and/or success/failures in this area for any guidance, advice, etc. 

These walls often have failures due to improper drainage or removal of water from the soil around the structure.

The fact that the tenant asked for them is my own failure because I should have looked at and addressed these things before the tenant complained. 4.