Also better prepared to handle guests questions about the place or help to troubleshoot issues at the place.  

Unfortunately, many CPAs are backwards looking and focus on just preparing tax returns.

-Mike  Best course of action in my view is to sit down and run the numbers on what it would specifically take for you to make the new property work (what value, what cash flow, what metrics - ROI, etc.) and then be prepared to purchase another property only if a property becomes available which 100% fits your criteria. 

People are interested in the deep cleaning jobs primarily in order to prepare for tax season?

Mindset, goal and action will prepare you for success!

Hello everyone,I'm preparing myself to start investing in real estate, and a relative of mine is willing to fully fund my first turnkey rental for him so he can hold the property. 

Be prepared to adapt.

We do not know when we will, but every client needs to be prepared for the fact that if they do not price to sell today, they may end up having to keep chasing the market down.  

Your experience in a challenging market gives you tons of insight on how best to prepare for what may lie ahead (or already be here).

Almost nobody knows the comps for their cell service, their car insurance, or their health care insurance.2) make sure they are on MTM or when their lease expires, until there’s nothing you can do. 3) find out the local/state requirement for notice to increase rent, maybe go even farther out to avoid a winter vacancy  4) be financially prepared for the tenant to move out and spending thousands to make it ready for the next tenant while it’s vacant for a month or two (especially in the middle of the winter.)5) be absolutely confident that you’re right about market ent so you don’t spend thousands lose rent to vacancy and possibly get a lower quality tenant to make an extra couple hundred per month.