Originally posted by @Josh E.

I went through BP post and found a checklist https://theresabradleybanta.com/wp-content/uploads/2014/03/Checklist-Before-You-Offer.pdfParallelly  I want to approach existing tenants and want to ask about issues with the property like - existing repairs  - recent inspections - soundproofing- any issues with HVAC, electricity, and plumbing - also about an existing landlord - their current rent and lease agreements. ( just for a reference as I'll be requesting Schedule E or 1065 form from the existing owner)  Since I'll be knocking on their doors and asking them, I might be shunned away or not welcomed, so I was wondering if there any tips you all can share which would help me approach the tenants Would offering them a chipotle or subway gift card for 15 mins of their time, a good idea?? 

We've rented it out for a long time and for tax purposes, we just report everything on Schedule E. 

As you continue to research and learn more about this world you'll find parallels that will enable your fundamentals to kick in and it'll be off to the races.

assignments usually happen between industry insiders no marketing no e mail blasts no website  etc etc.. if you can do it that way then your probably OK.. but not many can or do.

Google sheet doc link: https://docs.google.com/spreadsheets/d/e/2PACX-1vQ...

Project MangerProperty Manger (may need a special license on top of your R/E license)Leasing ConsultantNew Sales Residential Specialist (think Lennar, etc)Acquisition for DeveloperCommercial SalesI can go on and on...I believe this is a great way to get started since it gets your feet on the door to learn about the mentality of real estate.

Yes, this will most likely be deductible for you on Schedule E of your return.Agree that this situation is complicated. 

I deal in  hoarder houses for a living I E I buy them bull doze them and build new construction.. its simply amazing how some people can live and the filth they will live in.it makes me chuckle when people get a home inspection and there is a spot of mold somewhere and they freak out.. they have no clue.these type of people live in mold.. 

(e)If an Event of Default has occurred and is continuing, Borrower shall deliver to Lender upon written demand all books and records relating to the Mortgaged Property or its operation.