8) No tenant can be an elected official or member of a professional sports team ( a contigency to my insurance- seems strange to me!)

I hire a professional stager and photographer for every property I'm trying to sell.

I have 26 occupied units plus 5 in the renovation pipeline, they are all 100 yr old buildings in decent areas with mainly young professional tenants.

The properties must be professional managed as in any event the rules are violated the tax credits become worthless, so it's a very tough business to break into.

Seek professional advice from an attorney to form my LLC based on my business plan. 3.

Why not just hire a professional and focus what you should which is MARKETING and REAL ESTATE INVESTING.Hope that helps!

There are rules to follow so you should get a professional's help, but it could save you around $10k in taxes.

As long as you are active in some of the decisions you quite likely will be considered active.You can get around the 25K limit and the high income limitations if either you are your wife is considered a real estate professional.

Due to my lack of experience, two of the lenders required the use of a professional property management company from their list of preferred vendors.

Professionals understand that they are responsible for the loss of use of a property due to negligence or failure to perform as agreed.If a contractor tells me work will be done in a week, I'll usually allow another 20% or 3 days in this case. 90 days will get them 3 more weeks, that is plenty of time for the CG to cover an issue.Toward the end of some jobs, when there is not much money left in a job you may find a CG who starts moving on to other jobs, they may tend to slack off, dragging their feet finishing a punch list.