My existing "tax guy" who's been preparing my taxes for years, probably isn't going to be the best tax preparer moving forward seeing as how now I'm not just bringing him my normal W-2 statements. 

They all used the 75% rule. prepare to show all leases, deposits, rent rolls, etc. the paperwork is brutal.

Hello everyone,I just purchased my first rental, made it through the screening process, have a move in date set for a qualified tenant, and am wondering about what kind of documentation I should be preparing, and in what order?

If you buy a cheap house, you know has been neglected, you better be prepared and ready to attend to the issues.   

If you shared these facts with your title company they can be prepared for a lis pendens or other filing to be made and/or the sales proceeds frozen.If you have not shared these facts with your title company and are relying on the internet to save you from this mess, good luck!

Jay makes a good point, but I think I'm more prepared to accept that risk than the risk of losing my entire down payment in a short sale.6 - "Ben Graham's value investment philosophy."

Owners are advised of maintence and repair requests as they occur, so that they are prepared for less than normal deposit amounts. 

The one thing that I have been passionate about is learning about real estate investing and preparing myself.

The investment's business plan must be prepared to hold long-term in order to ride the cycle to the other side, to sell at the next market cycle peak. 

Fix it, or be prepared to lose those that it is affecting.