And as far as 1031s go, there are no exceptions and no provisions in the IRS code to extend the 180 days you have to complete the 1031 exchange regardless of whether or not there is rehab involved.

I'd recommend looking into the following zip codes in MW Detroit for buying and holding: 48219 (but not Brightmore), 48221, 48235, and parts of 48227.

I had 5 in a large  3 bdr, read your codes carefully, here related parties were counted as one, so 2 of the 5 were not related for a total of 3. 

To the point that it could mean the difference between a good deal and a bad deal.The tax code in NY seems to be extremely arcane, so I don't particularly expect a BP member to be able to calculate the number.

I once had a property manager try to convince me it was normal to just give the lockbox code to the prospective tenant in exchange for their credit card number so they could view the property without the PM getting off his lazy behind to show it.

It has cost me around $500 to credit tenants for that hardship, and more to connect the building to gas.The front steps were not finished to code, causing a tenant’s parent to fall.

Where you need to begin, but few do, is with the basics of real estate, many don't understand what it is they are actually leasing or their obligations.As mentioned, study your state laws as well as HUD housing regulations, it's all on the internet on government sites.Understand what an escrow account is, how funds are accounted for and when they are required.Understand the basic tax implications of renting real property, get with a good accountant.Know too that all real estate is local, you need to understand what is locally accepted and how laws are enforced, check to about building regulations locally concerning rentals as well as fire codes.

You can call the city planners and code enforcement office in each city and ask what are the current regulations.I can tell you they are watching Anaheim like a hawk to see if they go through with their threats to go after Airbnb owners with a pitchfork next year when the new law is enforced.

There are websites where you can search your laws, usually it is all in the penal code (CA website is http://leginfo.legislature.ca.gov/faces/showCodesTextSearchResults.xhtml a good search term is “find (your state) code”).

With the Internet playing the disruptive technology, I think this section of NC code is mostly obsolete.