If you're thinking at all about selling within the next five years, consider staying in the basement for two years so you can take advantage of the capital gains exclusion.

When we started out we looked almost exclusively at cash flow, and we took properties in almost any location.

My goal is to have 5-10 investors that I find properties and put offers in for exclusively, and maybe help some close friends and family along the way if they're buying or selling.  

It doesn't have to be exclusively real estate, it can be grocery stores, salons, gas stations etc.

Now many states have an exclusion or exception for one time or a few of these a year.

Like anything in business, it can be complicated, but you CAN learn and understand it.Another (not exclusive, but potentially supplemental) way you can limit the risk is to get an umbrella insurance policy on your properties that will protect you by paying out for covered liabilities in the event your property incurs them.  

You have to think about your tax bill from a sale You might be better off moving back into the condo to get your 2 out of 5 year exclusion and pay no taxes on a sale. i would let the condo run its course and accrue as much appreciation and equity year after year then  you can use a home equity loan or your own cash  or combo for a future deal. 

IMO, (non cpa, joe taxpayer like yourself),Deducting actual vehicle expense not only requires exclusive use for business, but the vehicle must have commercial signage permanently attached (ie not simple magnetic signage).Life is much simpler taking the mileage deduction and not raising a red flag for operation costs. 

Ok, here I am after years of reading books, listening to pod casts, watching videos, subscribing to newsletters, attending seminars, scouring neighborhoods, newspapers, thrifty nickels and online sites for properties I feel as though I'm pounding my head against a wall unsure how to crash through it!!

Below is a link from our newspaper in Cincinnati about a greater number of properties are not qualifying for section 8 vouchers and landlords are not make repairs to pass inspections.