i'm looking for the forum's advice on the most efficient/effective way of weeding out properties. i'll be living in the property for at least a year. while i live there, i'll be living in it (so property can't be a complete rehab), fixing or improving the property, and then either flipping or renting out the property. i've looked at about 18 properties the past 3 weekends (i just started 3 weeks ago). the 18 properties were chosen based on 2 broad criteria: 1) based on pictures, description, and google street view, choose properties close to the metra (in illinois), in a location with a great high school (>=8 score), and in nice(r) neighborhood.2) look at zillow for an idea on property values in the neighborhood so that i'm not buying one of the most expensive houses in the neighborhood. if i feel the house i'm looking at is somewhat undervalued because it needs work and there's some room for me to flip, then house passes.this criteria has helped me weed out 100's of properties, but takes me a bit of time.i'm curious, is this a good start or are there other ways that the full time/professional investors use?

Check out local REI events near you.

I'm neither a lawyer nor an accountant, but I recommend Googling "closely held corporation" and then asking your tax accountant how, if any, the proposed idea might impact your overall tax situation (https://www.irs.gov/faqs/small-business-self-employed-other-business/entities/entities-5: A closely held corporation is subject to additional limitations in the tax treatment of items such as passive activity losses, at-risk rules, and compensation paid to corporate officers.).I've read that when two closely held corporations owned by the same small group of shareholders do business with each other, the IRS sees a red flag because some people try using this approach to evade taxes.From my readings of personal finance articles, this additional scrutiny is based on whether there is an "arms length" between the two parties in a transaction. 

We also always send a message after they check out thanking them for being great guests and that they are welcome back anytime. 

I tried googling, but couldn't get the right search for what I was looking for.

When I searched " NRIA investigations on google this site and thread are #1.

Check out my personal favorite, Every Landlord's Legal Guide or The Book On Managing Rentals before you get too far into this.

@Harrison Colunga , check out the Events & Happenings Forum at www.biggerpockets.com/events

They have a Google Group that is VERY active and you will learn a ton just by talking to the other NARPM members.

This way parents that come with their kids to check out the college and area can walk the apartment themselves and see where their precious snowflake will be partying on the weekends (errr...studying...that is what I mean).