It might give you peace of mind as a newer / smaller investor, but in the end you have a problem you want to solve (taxes and being compliant), and if your tax guys owns a duplex will have no impact on his ability to address those issues. 

The 5 year proforma by DEFINITION is based on a whole slew of assumptions about a whole host of issues in the future - national economy, local economy, interest rates, cap rates, rental rates, political and geo-political factors.

Part of the act of providing title insurance is that the seller has to give the title company an affidavit of his names and aliases, addresses, work down on the house within the past X months, and lawsuits/ judgments against him.

Most of our tenants are reasonable folks, and the buildings in A and B level communities have mostly routine issues (leaky drains, roofs, etc). 

There seems to be issues with covering your expenses.Taking the sec121 exclusion, which is only for primary residences, is pretty much the best living tax exemption. 

Hi - I have a second / vacation home in upstate New York which had an issue and is under maintenance for almost two months.

With that, we became the American Association of Private Lenders—and we began spreading the word.Finally, Some DefinitionsUnderpinning the concept of minimizing the use of “hard money” in our industry is a recurring theme of standardization—that the root of the issue is too many interpretations of what the same terms mean.We offer up the following definitions for discussion, debate, fine-tuning, and eventual consensus [last updated 5/9/2022]:Private lender: Any non-depository individual or entity that primarily originates business-purpose loans secured by hard assets, generally real estate.Hard money lender: A subset of private lender where creditworthiness is determined solely by the securing real estate collateral.Correspondent lender: A subset of private lender where the closed loan is sold to investors.Portfolio lender: A subset of private lender where the closed loan remains in the lender’s portfolio.Fund manager: A subset of private lender where, depending on the fund structure, the deployed capital is sourced by offering exempted securities to accredited and occasionally non-accredited private investors.Private investor: An individual or entity that seeks a return by deploying capital through a private lender or fund; the investor may or may not be named on the loan’s promissory note.Private money broker: Any individual or entity that acts as an intermediary between a borrower and a private lender without directly originating the loan.

@Jay Hinrichs  I think part of the issue is that while we might consider it entertainment, so many people see these podcasts, etc as fact. 

That's still the issue I have with other markets like Washington.

ALL of these issues can happen locally as well for sure, but if you learn locally the lessons are generally not as expensive.