The property appraiser should be able to update it via Google satellite for total heated sq footage.

All of you feel free to connect with me via BP.

You can optimize via A/B split testing and other means but that comes once you have mailed thousands of letters, so you can see trends. 

You seem very kindhearted, but that's a problem in this scenario because it prevents you from creating boundaries when it comes to friends and business.

Once you have 5-10 properties, I would try to pay them off ASAP via wholesaling, rehabbing, etc.

It's those maniacs that buy homes cash via quit claim deed off of craigslist that really get screwed.Make sure your property manager is a licensed real estate brokerage.Google Clayton Morris scam and/or Morris Invest scam for a cautionary tale of what not to do when buying turnkey real estateUnderstand you can not eliminate all risk, only mitigate it.

Things that we are trying to consider are:The ability to obtain a loan in the future (lower AGI from depreciation might hurt us) and recapture taxesI figured that if we sell an investment property, we would likely reinvest via a 1031 to defer our taxes, but would love some opinions on others that have gone through this and might be able to share their experiences for setting up a good foundation.Thanks so much in advance!

A pre-foreclosure is not a real thing, it's something that was created via terminology for or by sites like Zillow so they can market unlisted properties and have agents pay to get branded on them.

@Phil P.Any debt instrument for your IRA (via LLC or otherwise) must be non-recourse per IRS rules. 

Hello all, newbie here looking to get started via house hacking.