That's why they call them "Best" practices, not "Imma SLAY IT on my First Deal" practices.I started with one dinky little Class C house in a so-so hood in 2005.

Things were going bad from day one however we wouldn't be aware of it until late 2017.It started when 1 of our properties got burned and when started an insurance claim learned that the policy the management company has purchased for us wasn't covering the cost of property purchase and their savings of $20/month cost us loss of thousands of dollars.That was the start of our awakening and we started checking all that was taking place and we have questioned all the different bills and reports that were provided to us, during that we learned that 2nd of our properties was abounded by the tenant and the months late rent payment wasn't questioned by the management company, not only that but thieves had broken in to steal all appliances and vanities, created damage and leave the property completey vandalized, a squatter had taken over the property and we had to go thru eviction process.Needless to say we have dropped Mousa and his so called management team (Omar and Wanda) and hired another company to take over and conduct a full due diligence on our properties which helped us to find out that on a 3rd property the management company had failed to fill out correct paper work and the tenant was not paying her utility bills for months and that mistake of paper work forced us to settle thousand of dollars past due bills with the city, that's on top of the fact the tenant was way past due on her rent, this property was so badly maintained despite the fact we have paid thousands of dollars to Mousa and his team for various repairs they have reported and invoiced for.As you can imagine the poor management of this company had caused us nothing but losses that are at this point estimated in tens of thousands of dollars.It is clearly our responsibility of not checking this company in details before engaging in business with them, however it is this company lack of responsibility and management that caused our losses.Be aware and check them thoroughly before engaging

Don't be a pushover, How to properly vet a tenant, make them pay the house call fees, and do a monthly check and pest control if you manage it yourself to insure the home is being taken care of.

Yes also phone calls are great as well on a quarterly basis to check in.

However, the flipper has not been able to finish the project and has stopped responding to my emails, phone calls, and text messages to find out the status and next steps with the project.

The IRS wants something in writing: the appeals officer asked under what authority should the lien be considered in the distribution, then denied the appeal when my CPA suggested we compare it with the distribution amount if the property was sold and the note was called due.Other similar like-kind distribution examples would be helpful to.

no -  I'd love to get insurance and would like to know how to do it.I called my regular agent and she said they would do fire and dwelling but nothing else.   

You will likely get some responses from tax professionals.If its an easy question, I think you will likely get your response.if its a tough question or detailed / specific question, you may see some people say it is better to have a consulting call.

The owner also shared a ton of value with me on our first call, which he really didn't have to, so that stuck with me. 

.: The syndicator's "model" if you could even call it that was broken when interest rates went up in 2022.