If they're late multiple times and or declared bankruptcy, then I would expect them to continue, unless they can provide some clear explanation.If you're having problems renting, it is either a pricing, condition or marketing issueGood luckGino

You mentioned a creek, so finding a few flat/clear-ish areas with a nice view of the creek could be all you need.  

Is there clear title?

I think it's pretty clear it disincentivizes new construction or encourages landlords to find ways around it.However, I do believe we could do better in areas for encouraging new construction with zoning reform and other tax incentives.

Second, I have a question about REPS status in a longer term sense.The primary benefit of REPS status, as I see it, is to take passive real estate losses, usually from depreciation and accelerated depreciation via cost-segregation, and use those losses to offset active income, reducing current or future AGI and tax burden.I’m clear about this benefit, but what I’m unclear on is the consequence in out years.For example, if I put $100K into a multifamily syndication, and the syndication does a cost seg, resulting in a $40K loss, I believe that a Real Estate Professional could claim that $40K loss against their other income and reduce their AGI accordingly.

The NoD must clearly state the missed payment, cure period, and consequences; consulting an attorney for your first default is a smart precaution.

To address this, request documentation, update the lease, address rent payment, consult an attorney, and maintain a positive tenant relationship by communicating clearly.

My parents have a neighbor that he is planning to sell the property that he own free and clear.

Fees should be clearly stated in writing, easy to understand, and justifiable.

Once ignored my own rule and, well, let's just say my accountant wasn't thrilled.Have a Clear Exit Strategy: Knowing whether you want to flip, rent, or hold onto the property helps steer your decisions.