Determine local/state laws regarding wholesaling and determine if (1) you need to be licensed in the jurisdiction you’re considering and (2) if you’ll be able to operate profitably while remaining legally compliant2.

@Saika Maeda Permitting the ADU allows you to claim depreciation, operating expenses, and other tax deductions, potentially reducing your taxable rental income.

I have the opportunity to list sell multiple acres of virgin waterfront property in Trinidad and Tobago.So I'm looking for potential investors as well.Which islands do your company typically operate?

A common strategy used by investors, such as those operating through PadSplit, involves purchasing the property, completing basic rehab, refinancing, and then using cash for the interior build-out.Another potential red flag, even without converting common areas, is the addition of individual locks on bedroom doors.

Many of these markets are very well represented by sellers & turnkey operators here on BiggerPockets.

That ends up leaving a void that's filled by unprofessional, and in some cases outright criminal operations there in the PM space.

You operate a trade/business - then you have all deductions AND an obligation to issue 1099sB.

I successfully operate a small portfolio (3 duplexes and three single families) out of state and a good  property manager is essential. 

@Eric LoweIf you cannot find a local firm, reach out to these experts who operate national firms:  @Bernard Reisz, @Yonah Weiss, @Julio Gonzalez. 

But unless their businesses are structured very carefully they're no operating in the clear.