The key with condo complexes is to do due diligence on each individual complex as far at whether they are warrantable, VA-approved, and whether they might be facing any upcoming special assessments or have issues with the state-mandated structural integrity studies and their reserves.

I am more than happy to share my preferred lenders that specialize in investment properties, home inspectors, contractors, landlord and builders risk insurance carriers, and CPA's that know to do cost allocation studies with my investor clients (that's how you know you have a CPA that knows real estate investing accounting).

What is a Cost Segregation Study & How Does it Work?

Obviously, your son's preferences play a huge role in what he will enjoy/be drawn to study. 

Consider doing a time study of where your time goes for your real estate business.

Be sure you have liquid funds to be able to withstand these expenses.3) Study the market for yourself. 

Study the state landlord tenant regulations and see what options you have.

(My commercial deals are typically 5-30 unit buildings, not multiple hundred unit complexes)Some LOI terms to includePrice, transfer taxes, concessions, contingencies, study period, closing date.

@Peter Mckernan @Mark Frattini@Allen Tracy @Katie L. also looking for a RE-savvy CPA in California who can work with me to execute the STR strategy to offset W2 income with losses from a cost seg study I'm conducting.

In this document, I will share a portion of a study I conducted with some of our clients.