Good with Their CrewOn bigger jobs, a contractor is basically the team captain.

It was held by the previous owner for a very long time, so I wouldn't be surprised if some basic facts about the house are incorrect.

@Albert Gallucci as many have pointed out, in the commercial space of 100+ apartment buildings and offices, property classes have some pretty decent industry standards.We started applying these to 1-4 unit properties around 10 years ago, which you can verify on our blogs, because we saw too many newbie investors not properly taking into account things like, neighborhood status, tenant pool, property condition, etc.Unfortunately, there's no industry standard for this, but you can use some basic logic to think your way through your own Classifications.

There are several basic rules for a 1031 for identifying properties, timelines, and uses. 

Podcasts and books are another fantastic way to get some knowledge in and help understanding the basics.

Since you can't control the sale price, you basically have a $4k cushion to your reno costs, or otherwise you lose money compared to the as-is scenario.

I'm seeing new neighbors of basically identical houses with maybe 50 or more investors in the community. 

;-)I am starting to read books, audiobooks, and this site to builda basic understanding of RE investing in 3-6 months.

Although I conducted a basic septic inspection during the closing, and the system is in good working condition, it still failed the STR inspection.

I'm currently in the market for a Tax Pro that can assist with my relatively basic returns and continue to assist with a tax strategy moving forward.