My property management has been good about day-to-day items like appliances and turn overs, but poor at comprehensive solve like exterior leaks and only one individual has been good at communicating with tenants.  

The hot rehab market is allowing teams to do quick and partially finished job and jump to the next job. 

If there's a fixed-term lease, the landlord typically can't raise the rent until the lease term expires, unless there's a specific provision allowing for increases.

Look for markets that allow low entry point and stable rental market demand.

Additionally, there's a fixed self-employment tax.Income Tax: 22% * $70K = $15.4KSelf-Employment Tax: 15.3% * $20K = $3.06KTotal Tax Due: $18.46KRemember to account for any state taxes as well.To defer taxes entirely, you could utilize a 1031 exchange, which allows you to reinvest the proceeds from the sale into a similar investment property, thus deferring the tax payment until a later date.Example #2: Long-Term Capital GainsNow, consider a scenario where you hold onto the property for over a year.Project Details:Property Cost: $70KRenovation Costs: $50KResale Price: $200KProfit: $80K ($200K – $50K – $70K)Since self-employment tax doesn't apply, you only need to calculate the long-term capital gains tax.

A note about the $25,000 loss allowance, that only applies to real estate tax losses for an activity that you "actively participate" in. 

(If you're allowed to share on here.

'Individual Taxpayer Identification Number' (ITIN) for each owner of the property (Each person listed on the property deed).

First, its best to identify a strategy, choose a market that aligns with it, and establish your Core 4.The main challenge I observed is that individuals often lack a clear end goal or strategy, or they select a market that doesn't align with it. 

I don't allow tenants to mount TVs, shelves, or other large items on walls.