After reading David Greene's "Long-Distance Real Estate Investing" and months worth of roaming around biggerpockets we decided pull the trigger on our first BRRRR project. 

@Michael Stockwell I don't know about in IL, but in MA it is the owners duty to come into compliance within 90 days of ownership on the topic of lead paint.

What you need to focus on is ensuring you are always in compliance with building codes and hiring licensed professionals to do things like electrical, plumbing and HVAC.

Especially when it comes to permits and dealing with code compliance

We overcharge on an appraisal to make sure we are in compliance with disclosing, if it comes back less then you will just get the difference back.

Set your metrics and your pass & fails, then once it all checks out don't hesitate to pull the trigger and TAKE ACTION!

Hey BP,Me and my wife have been researching real estate investing and rental properties/landlordship for a little over year, and we're looking to pull the trigger!

I just want to make the wisest use of my time preparing in order to help increase my chances of success and returns when I pull the trigger.

It does not help you find deals more easily, and the training you get as a realtor is all about compliance which doesn't help with investing.

Once the entity is in place, your attorney will help with legal advice and future structuring, while the CPA will assist with tax strategy, compliance, and automating your accounting system.There are several pricing structures out there - flat fees, hourly, and value pricing.