Quote from @Nicholas Cavato: Looking for advice from you BP pros out there.I will be purchasing either a single family residence or multi family residence home in the Cleveland, Ohio area no later than January 2025 and intended on purchasing using an FHA loan with an already formed Ohio LLC.

Understanding their cash flow is critical.I especially like your idea of communication clauses—non-responsiveness is a huge red flag, and setting expectations upfront can save a lot of headaches later.

Talk to a lawyer.If you get in trouble with your city you won't be able to rent it out now or later.

If the economy gets better, you might be able to refinance and/or if you make more money, pay down the principal later if that is what you really want.

Most criminals defrauded the IRSI wonder what would happen if the people who combined lost like $2M all sent 1099's to him-I bet that would wake up the IRS but not sure if it would impact their claim later on.

It's important to have your attorney review the title commitment, as I've seen "wholesaler-friendly" title companies include various items in the title exceptions that could cause problems later on. 

Once you get one under your belt, then you can think about out of state investing later and use the equity you built with the high appreciating market you are probably in!

Do you know how you will handle late rent?

Consider all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.

So getting one involved now and sooner rather than later is a great move on your part.