The REPS-9 election prohibits grouping short-term and long-term rentals, emphasizing the need for careful strategic planning.

Conditions and compliance of the property code would be taken care of during the sale of the property.

Negotiate terms with sellers based on your findings and financial analysis, and seek assistance from legal and financial experts to finalize the purchase agreement, financing, and closing process.Having a strong property management plan is crucial, whether you decide to oversee it yourself or enlist the help of a professional company.

Or get a professional cleaner? 

I think you should look at working with a tax professional early.

However, I've heard many mixed opinions from different professionals.

Wondering if it's necessary to have a professional to the accounting work as to not mess it up for tax reasons.

If you do not qualify as a real estate professional I don't think you can deduct losses against your w-2 income.

We are carefully looking into starting rental property investing.

Look into Cost Segregation and talk to a professional.