Thanks.Hi Ming,Check out a few blogs I wrote for Bigger pockets that to relate to your post.http://www.biggerpockets.com/renewsblog/2014/12/20/first-investment-property-important-things-consider/http://www.biggerpockets.com/renewsblog/2014/11/15/3-types-of-risks-real-estate-investors-regularly-take/http://www.biggerpockets.com/renewsblog/2014/07/26/sight-mind-real-estate-investing-afar/I hope you find them useful.Thanks and have a great day.

So I talk to a landlord on the phone to go see the property, it's a great location, I will act like a perspective renter.As I walk through the rental, I will ask all the questions a regular renter will ask, like, can you tell me the HVAC how old it is, what's the average bills in the summer, what's the average bills in the winter, I really am looking for a long-term commitment, like 24 months, etcAnd then I'll have a flyer in my handAnd I would say,"Mr.

You basically have two options available: an instalment sale: the buyers purchase the house from you using X number of regular payments over Y years; or a purchase option: you simultaneously execute a regular rental lease and an option to purchase the property at a fixed price at some point in the future (3-5 years).  

I have not checked a blanket liability policy, but anytime I inquired about a single property commercial insurance, the rate was 3-4x the regular one.

Not a must but extremely helpful.2) Join Mint.com and CreditKarma.com to monitor your score.

I learned a TON from those experiences and have become much better at sniffing out solid investments.One hard money lender that I met with regularly once told me "if you find a good deal you will ALWAYS find the money (or somebody with it) to get it closed".

Do you live close enough to close the feed-water valve and monitor the system to see if it holds pressure?

Open market it is almost non-existent because some buyers have all cash, some cash with regular financing, or they have cash but need owner finance because they do not qualify the regular way.There are many, many ways to make money in real estate and one does not invalidate the other.

In this discussion, I am NOT discussing the income and expenses for the properties (whether it's a good idea to keep them or how I ran the numbers), but only the taxes.Do accountants regularly cover more than their own state's laws and regulations?  

In this discussion, I am NOT discussing the income and expenses for the properties (whether it's a good idea to keep them or how I ran the numbers), but only the taxes.Do accountants regularly cover more than their own state's laws and regulations?