Be prepared to provide alternative proof of income if you don’t yet have the required tax returns.

You have prepared financials, and can learn about the strategy and performance of the properties based on many years of combined knowledge that the syndication has, in this case Ashcroft.

The complexity of your tax return preparation will depend on the type, the size and the use of your properties.

I'd also like to consider Peoria, IL but I understand that IL is not as landlord friendly as the other states I mentioned.What are 3 words of wisdom you'd offer in terms of preparing to be an Out of State investor?

It’s all about managing those risks and being prepared for the unexpected!

In this case, the seller is in default of their mortgage payment, they want to close early to get some money in their bank to show for the next rental, and the staying back 20 days is to prepare for the move and looking for the place to rent.

I think you go where the opportunity is and where you have some leverage and if you feel that Tennessee offers you that, I would look there, just be prepared to use that as a learning experience, so you may need to travel more, which it sounds like you're willing to do.

If the refund was an additional $1,000, you may have to question if it was worth it.If you did a DIY Cost seg, you likely paid around $600If you went the other route, you likely paid $2,500+The cost to the accountant to prepare the amended return was likely $500+

I listen to bigger pockets podcast about 5 hours a day, what else can I do to prepare myself and even make some more money right now?

If so, make sure to ask the investors if they would consider sponsoring the deal for a piece of the GP ownership.If this is your first deal, be prepared to give a big chunk of the deal away.