My wife and I have collected every rent check for over a decade now, one of the reasons behind this is by avoid those less desirable areas. 

For long term buy and hold or MTR/STR check out the Tahoe Reno, NV area.

I think bad actors will always be around, there is a need for some consumer protection, but I think regular laws can do this.

For someone that's not as conservative, or a different view on the cycle, they might have a different opinion than me on all of this.2) Sponsor quality check: (takes about 45 minutes per deal)I believe that a great sponsor can take an average looking deal and make it great, and that in mediocre sponsor can take a fantastic looking deal and make it bad (especially if there is a severe recession).

Let the lender tell you what they come up with and check it against the redfin calculator.

Do you want to build monthly cash flow, stack big checks (flips), smaller checks (wholesale), or tax advantages?

https://www.thimble.com/small-business-insurance/additional-...https://www.propmhomes.com/blog/additionally-insured-v-addit...I plan to circle back with my broker but does this check with what others have heard?

Check out this list of real estate meetups in Chicagoland.

My LLC for PM would be taxed as a sole proprietorship unless I had other employees, which would equate to being considered just another source of regular income for me, meaning the $1000 I paid would be taxed at my individual income rate (25%) for a total of $250, meaning I would still only keep $7500.However, if I had more than just myself employed by the LLC and made less than $50k/year, I would only be taxed at 15% on the money I allocated for PM, or in this case, $150.

Still recommend checking your local laws.