Here are a few lessons I learned during the renovation, many of which stemmed from the age of the house and unexpected hidden damages:1.Damaged Plumbing: Several plumbing pipes were ruptured or severely damaged, requiring replacement.2.Termite Infestation: I discovered termites, which led to additional costs for treatment and repairs.3.Rotted Wood: Significant sections of wood in the structure were rotted and had to be replaced.4.Lack of Insulation: There was no insulation in the att Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

But when you get those numbers dialed in untill before closing, you sleep a lot better.

You need the type of attorney that the boogeyman checks under his bed for at night before he goes to sleep, and may need to offer 35 to 40% contingency fee.

@Tove Fox - Residential Real Estate InvestingPros:Lower Entry Costs: Easier to get started with less capital required.High Demand: People always need homes, making demand relatively stable.Easier Financing: Mortgages are generally easier to secure with favorable terms.Simplicity: Easier to understand and manage, especially for beginners.Flexibility: You can use it as a personal residence or rent it out.Cons:Tenant Turnover: More frequent turnover leads to vacancy and more management.Lower Cash Flow: Income potential can be modest compared to commercial properties.Emotional Buyers: Residential prices can be influenced by emotions, leading to price volatility.Maintenance Burden: Landlords often deal with repairs and maintenance, which can be time-consuming.Commercial Real Estate InvestingPros:Higher Income Potential: Stronger cash flow and higher returns are common.Long-Term Leases: Tenants often sign longer leases (3-10 years), reducing vacancy risk.Professional Tenants: Business tenants tend to take better care of the property.Valuation Based on Income: Prices are based on the income the property generates, not market emotions.Shared Costs: Tenants often cover property expenses like taxes, insurance, and maintenance (via triple-net leases).Cons:High Entry Costs: Requires more capital or partnerships to get started.Complex Management: More expertise is needed; you may need a professional property manager.Economic Sensitivity: Commercial properties are more sensitive to economic conditions.Challenging Financing: Securing financing can be harder, with stricter terms and higher interest rates.Zoning and Legalities: More complex regulations compared to residential properties.Key Differences:Risk: Residential tends to be lower risk, while commercial offers higher rewards but with greater risk.Management: Residential is easier for DIY investors, while commercial properties usually require a team.Scalability: Commercial properties are easier to scale, offering more potential for significant cash flow increases.

I am sure there are other good choices out there, but strongly recommend them.Stessa is lacking tenant communications and maintenance tracking, but overall stands up pretty well as free, or nearly free.Buildium is pricey and has a learning curve, but if you are going to exceed 20 units, definitely look to migrating to a real professional package like buildium

We would prefer something that allows us to sleep peacefully at night.

Research contractors better Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

@David Sam Cost segregation can benefit a property under $400K by accelerating depreciation to offset taxable income, especially if you qualify as a real estate professional or use the short-term rental loophole.

Quote from @Jake Hughes: Whats up BP community.What professional photographers are people using to market their rehabbed properties?