Here are ten things that I think you could do:1) Only buy if the property is cashflow positive as this gives you the flexibility to hold on to it if you are not in a position to sell due to an unfavorable market2) Focus on properties where there are value-add opportunities since this will allow you to increase income or decrease expenses to force equity and improve cashflow3) Focus on strong markets that have got the economic fundamentals to reduce the risk of a drop in your income i.e. population growth, wage growth, jobs growth, more demand than supply4) Avoid class A properties as people will move towards less expensive options in a downturn5) Lock in longer term debt now while it is still possible to do so6) Use less leverage to reduce your expenses and also maintain adequate cash reserves7) Be conservative in your underwriting, it may take you longer to get a deal but it will be a deal that you are happy to be in8) Recognize that real estate as an asset class represents diversity in a balanced portfolio of stocks and bonds.

Right now I will continue my education on how to find and recognize good deals in those areas.

This has proven to be a pretty unstable situation but we made it VERY clear before we signed a lease that everyone was on the lease and each was individually responsible for the entire amount of the rent.

However, the Treasury Department and IRS recognize the difficulties taxpayers and practitioners may have in determining whether a taxpayer’s rental real estate activity is sufficiently regular, continuous, and considerable for the activity to constitute a section 162 trade or business.

There are proven general partner/sponsor/operators all around the country:A.

On the flip deals that I have done, I have found the following to be great resources: 1) working with wholesalers and realtors to find off market properties, 2) working with a solid hard money lender, and 3) having a general contractor who has a proven record and works with my hard money lender and their escrow process.

You can use the equity you have in your first house to start another project given you have the credit necessary.Again, I haven’t done any of these yet, but from what I’ve read they are all proven ways to do it.

Location has also proven to be a huge advantage to rental demand and house appreciation.

I invested in the property because I recognized that home prices in this area were undervalued at the time, and the subject property was aesthetically the least attractive in a decent neighborhood.

And as I mentioned, I recognized that I went so long getting nowhere before, so now I have a ton of motivation to start landing deals, even if it's partnering, to get the track record as proof for future deals.Thoughts on the 20 units, or any other tidbits of advice please?