Hello everyone, I would like your input please.We have a list of 8 distressed apartments and we want to purchase one as our next investment.I know many do not like to invest in apartments but our first one is working well and we want a second one before going into a multi family.We have searched listings and run the numbers on the ones we like.Please tell me if you agree with the following strategy.Write a letter to each seller stating who we are and that we have selected their property as one of 6 we are interested in. 

I am going to list them:TurboTenantIt is completely free to advertise your rental, screen your tenants.You upload your pictures, write a description and it posts to 20+ websites for freeTakes about 24-48 hours for leads to come in.Once you select a tenant, they pay for the background check, upload documents (paystubs, ID, W2) and it is all set to you.It even helps you build a lease after you select a tenant (there is a $30+ fee for the lease)My referral code .disclosure.

Your best best is to find a CPA who specializes in real estate that is also familiar with the state laws where you are a resident of.People think that there are only a select few amount of CPA's that specialize in real estate taxation.Real estate investing and the taxation revolving them is as old as time.You may be able to find a local CPA that specializes in real estate taxation at a REIA meeting.You can also a CPA by networking with other investors within your state and asking who they use.Best of luck!

In our experience, the #1 mistake landlords make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.

It can work if you're local and already have a good circle of handymen, contractors that will be available with short notice and feel confident with tenant selection and all that goes with tenants. 

@Gerard LewisEven if someone give you a referral, what meets their expectations, may not meet yours.In our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.It's often a case of not doing enough research, as they don't know what they don't know!

In this case, there are two lovely families and I feel bad one will not get selected. 

Just browse the forum, select some that you like and contact them privately.As far as cost segregation, read this post https://www.biggerpockets.com/...

Plus, the higher cash flow should afford a little wiggle room for a little extra wear and tear.What are things to look for when selecting a location for student housing?

@Kevin PetersonIn our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.It's often a case of not doing enough research, as they don't know what they don't know!