However, if the thought of diving into tax forms and recalculations seems daunting (and it can be, given the complexities of tax laws and the potential for significant financial implications), reaching out to a CPA might be the smarter move.

If you're just buying the building the building and leasing it to an operator, your list of things to do and potential bumps in the road are somewhat reduced, but either way, proceed slowly and methodically, especially if this is your first RAL.

To ascertain the effect on your tax status, including any potential advantages and deductions, speak with a tax specialist.Consider how your condo purchase fits into your long-term real estate investment strategy.

There are strategies for folks with short-term rentals (7 days or less) that could work here potentially. 

How does one research insolvent owners/find defaults and to pursue potential fire sales if/when said defaults occur?

Hey there, if you are in Cincy on the 15th, this a potential event to go to- https://www.eventbrite.com/e/carex-free-monthly-brokeragent-meet-up-tickets-807011241347?

Embrace this win-win opportunity and unlock your rental property's full potential with CityFHEPS tenants.

Nor are we fiduciaries – another red herring.Educate yourself about the licensing and usury requirements in your state before you speak to a potential lender, @Nicole Austin.

Yes, there will be limitations of a TN financial institution as I live in CA, and I have read articles about potential tax and filling season issues if you bank outside the state where the business is registered. 

Here are some benefits of investing in Columbus, Ohio, that may make it a wise choice:- Affordability: Property prices in Columbus are notably lower compared to those in LA, which means you can potentially buy more properties or larger ones for the same budget.- Rental Demand: Columbus is a growing city with a steady flow of professionals and students, ensuring a strong and consistent demand for rental properties.- Economic Growth: The city's economy is diverse and steadily growing, providing a stable environment for your investment to thrive.- Investor-Friendly Climate: Columbus has relatively manageable regulations and property taxes, making it attractive for real estate investors.While investing out of state does come with its challenges, such as property management from afar, partnering with a local property management company can help ease these concerns.