Also, she threaten to put cement down the drains and to burn the place down.

What’s the most common way to keep track of your properties without hiring a professional acocuntant or manager?

Issue with PM - If you list more than one property you get PM or special designation on the site so people know they are dealing with a "professional"issue with vetting owners - We use Task Rabbit for properties that are far away to take pictures of the property and to gather personal information and paperwork.

Don’t ever let any financial professional tell you that “you don’t have a choice.”

The more well-versed you are, the easier things will be and the more comfortable you will be talking to professionals throughout the process.2) Find a good real estate agent that you can trust.

The compliance costs are more than just paying professional managers and may mean more larger, institutionalized ownership (with resources for a law firm to constantly fight and full time professional managers able to keep up with all the rules)... 

I'm not a lawyer and not giving legal advice  -  I'm not a CPA and not giving finical advice  -  Simply my opinions@Ike MutabannaTo find a lawyer try checking on the Texas bar website www.texasbar.com You can choose specialties such as Real Estate and professionals with an office location near you.My $0.02 on the Series LLC concept  - I read David Willis' books - it seems he likes the use of Series LLC's for asset protection. 

This way, you are earning $ but, more importantly, not risking anything AND at the same time you are learning what's good, what’s bad (what the professional buyers like or don't like and why) as well as the entire due diligence/backend process so that after you do a few of these transactions, you will be MUCH better prepared to invest in notes for your own account.I've been working with new note investors for 20 + years, matching them up with the right funder depending upon the types of transactions they want to refer.

Rather than fighting with underwriting once in escrow and with earnest money possibly being on the line (or risking a refi falling through), I'd suggest having the friendly "fight" with your tax professional upfront in order to get as much as possible shoved into line 18 "depreciation."

And before going further, I'm in discussions with a tax professional but looking for anything myself or they haven't thought of from the BP community.I guess my question is for folks that have been investing in real estate for years and built out several properties, knowing what you know now is there anything you would have done differently when you started?