Conduct thorough market research to understand rental demand, property appreciation potential, vacancy rates, neighborhood trends, and economic indicators.Please take some time to review your financial goals and develop a strong financial plan for acquiring and overseeing new properties.

And don't forget to think about property management, whether you plan to handle it yourself or hire a professional company.Before purchasing your first rental property, it is important to conduct a detailed financial analysis using tools like real estate investment calculators or spreadsheets.

Assemble a team of individuals who can split following responsibilities: contribute the earnest deposit money, guarantee the loan, find the deal/conduct the diligence, raise the capital and manage the building.

We've conducted thorough due diligence, including appraisals and inspections on every property.

@Khu FarWhen embarking on a real estate investment journey, it is important to establish both short-term and long-term goals, conduct thorough research on local markets, explore various investment opportunities, and take into account the possibility of investing out of state.

Conduct an Internet search or call your favorite title insurance company to confirm the following:Federal Tax Liens Take Priority Over Superior LiensOne exception to the lien priority rule occurs if you owe an unpaid tax debt.

Besides, you should be conducting background screening on ALL tenants. 

Not only is the new owner taking subject to local law, but taking subject to means current owners cannot conduct sham sales in order to evade tenant protections. 

However, if the appraisal is conducted as part of the property acquisition process, it's likely considered part of the property's basis.It's important to keep detailed records of these expenses and consult with a tax professional to ensure proper treatment on your tax return.

It's also crucial to conduct thorough market analysis and search for properties using tools such as real estate websites, MLS listings, and property management software to find potential investment opportunities.