then successfully foreclosed upon by the mortgage company...and then that note was sold as a package to another round of investors, who listed it on auction.com as well as MLS. 

Heck when I google his name the first things that come up are the videos warning about him and articles about how he had to flee to PORTUGAL to get away from all the lawsuits. 

Scenario with fake round numbers: 3 Unit building cost basis for depreciation: $300kEach unit rents for $1500 - Total $4500 a month: Annual $54000 (Let's assume that includes vacancy for simplicity's sake.)Tax deductible expenses:Depreciation : 300k / 27.5 = $10,900Mortgage Interest 4.5% on 300k balance: $13400Property Tax: $5000Insurance: $2600Maintenance:  $3600Total: $40,000 deducted from $54000 income.

Need back round knowledge on all the trades.

And for the inspections + repairs, it's not necessarily settling for less than perfect, but it's confirming exactly the state of the property...which actually isn't done until after the first round of inspections.

The SEPTIC has nothing to do with the value of a broker/agent.What it likely sounds like you are mentioning in a round about way is that the broker/agent should pay in the form of lower commissions because of a problem you found out with your property.

I do put in my mileage as it is just over 700 miles round trip each time I go over.The mortgage itself isn't deductible but the interest is as you noted.Still, find yourself a good CPA who can guide you through the pitfalls of STR's.

Question: there is a Home Show scheduled here in SECT from 2/21 through 2/23 that I can get free tickets for. 

Keep it simple on your first few rounds.   

Seem like you’re saying just well rounded with what properties you can offer to the investor?