Do not defer repairs if a potentially dangerous situation arises.3.

Looking at potentially doing student rental out there.

From the real estate you are going to be getting Passive Activity Losses (PALs) which is depreciation to offset passive income, potentially reducing your overall tax liability.

Overstating the profitability of this endeavor by grossly understating the competitive nature of the bidding, the sophistication of some of the players as to research capabilities, etc.5.

Thanks Can potentially help - do you have further details on the property? 

If not, factor minimum 15% for management.Also, consider that you will pay taxes on all the income (after expenses).As others mentioned, research the competition in your area to learn the demand/restrictions.Depending on these answers, you may be better off doing this closer to home. 

Where can one research what the regulations are?

This is not to mention the DOS clause when transferring to an LLC.I started doing some research, and I think this is where the Analysis Paralysis began.

You might also meet someone that could be a potential business partner.

Do tons of research to spot swe­et deals.