I would consult with a CPA first in terms of how to set up your business for the best tax vehicles and $ movement and start aligning yourself with professionals who are familiar with this investing space in your local market.

My suggestions would be to align yourself with organizations that are helping fight the legislative push towards more destructive housing policies.

., so I'm guessing your success has to do with aligning goals/interests and being clear on them? 

Could somebody explain, in relativity simple terms, the MAIN tax benefits of owning rentals.Is building depreciation and component depreciation different things?

If something goes wrong, the entire operation has an incentive to ensure it gets fixed.Second, when the property management is fully in-house, it seemingly creates an incentive structure that more closely aligns with my interests as an investor. 

I would focus on getting educated in the property types that interest you while aligning with knowledgeable people that are experienced as possible partners.

Ideally, I would like to connect with sponsors that specialize in a strategy somewhere in the range of value-add to core-plus, as those strategies are best aligned with my personal risk preferences.I’ve browsed these forums for a while and I know how helpful y’all can be, so if you know of any parties that would be good to connect with please let me know!

Next you need to make sure you have the right team in place in that area to help you achieve that goal and the right people to help make sure that your strategy is correct and the city you are investing in is aligned with your goal and strategy.

The property is almost 17 years old, which is old enough for some components to start showing their age. 

All components of the SFH in good working condition and up to code or community standards.