I'd greatly appreciate any advice and more than happy to share additional information if needed. 

But there are many things that can be done to greatly reduce the chance.For example, many sponsors are audited which provides an additional set of eyes.

This is a good investment in my opinion.Feel free to reach out if you have any further questions or need additional clarification!

You’ll want to check if your specific work falls under their home improvement contractor licensing, or if there are additional local permits required depending on the county.

Preparation is key, and relationships are everything.When closing a property deal, the funds typically required include a purchase deposit, which is refundable during the due diligence period, and an additional nonrefundable extension deposit.

Some additional details needed:1.

Also, are you trying to avoid one with an ice maker--potential here for additional maintenance if any issues arise.I've had Whirlpool, Samsung, Frigidaire in properties without any issues.Make sure you're aware of what the manufacturer warranty covers things such as parts, labor, and compressor.  

In addition, you still need to meet the IRS requirements for material participation in each property or elect to group themBased on what you say it sounds like it would be challenging for you and your wife to meet these requirements unless she gets involved in more real estate activities that qualify for REPS hours. ...

It has 3 units, an additional dwelling unit in the garden level, and 2 garage parking spaces (which I've come to realize are quite valuable where the property is). 

.- Additionally, you can track income and expenses consistently using software or spreadsheets.If you track everything, you could show a loss and use that to offset other earned income (such as a W2) which will net you a bigger refund.