REPS is tough to qualify for if you have a full time W-2-paying job or company outside of real estate.If you get trapped with PALs, consider utilizing 1231 gain in conjunction with long term rentals.Current year deductions are only great if you can use them now! 

The only real way to protect yourself is to have the tenants pay for their own utilities. 

So I pay less than $4k for what my PM wants $8k for and  Lowe’s/Home Depot want $12-$15k.

Some of those local competitors will pay all cash, site unseen, with title issues.This is a numbers game, so find the zip codes/neighborhoods with a lot of market activity (i.e., the most dots on a Zillow map search) and delve deeper to see if it's an area of interest.Lastly, when looking up properties, be mindful of taxes.

Now you need to figure out how to find deals and pay for them.

I'm thinking of getting a business credit card to pay for the rehab side of my investments.

I believe in taking matters into my own hands by strolling around the property alone to have a firsthand look at the exteriors and analyze the general condition.During these inspections, I pay close attention to important details like drainage, brick or siding condition, sidewalks, and even resident profiles.

I also pay a 1,000 finders fee for any unlisted property that someone tells me about that I buy.

I believe it is a good practice because in a pinch tenants will pay whichever bill screams the loudest.

You may want to consider this before paying $1-$2k for an appraisal and not have the loan close.