Once I did that (and followed it religiously) everything else just fell into place.I'm a HUGE fan/follower of David Allen's Getting Things Done (GTD) http://www.davidco.com/ and no other software that I had used in the past really worked well for me.

But religious tax exemptions get reattached or removed on May 1st of each year.

For anyone to think that they are an ethical person, say based on thier religious followings, they can easily be involved in an illegal practice unknowingly or devise unethical practices due to the lack of specific and prudent expectations they may be held to.

If you subscribe to the 50% rule (as I do) use it religiously (or the 40% rule...or 61.5% rule...or whatever works for you).

They just think you get a renter in there & call it a day.They're in for a rude awakening.

I would read those religiously as @Ken Rishel and Bill Gulley have posted extensively on the regulations and they are the go-to for that information.

Read the books, watch the videos, listen to the podcasts and do it religiously.

Watch youtube videos religiously, take notes, write scripts, it will all come together.

MOST IMPORTANT: Follow-up religiously with potential sellers.

As to @Rob Cee  question form my personal experience I would say its 50/50 at best 50% kind of make it through and 50% figure out over time that going out of state  ( and its not necessarily out of state its low end C class rentals) is far tougher and far more risky then they could imagine.. the West coast investor if they are not familiar with the south mid west north and the neighborhoods these homes are in  are in for a big awakening...