I purchased my first tax lien and need to get the property placed as abandoned so we can start foreclosure.

Thanks Your rental income (does not matter if long term or short term) of your schedule E is calculated using this form: https://content.enactmi.com/documents/calculators/Form1038.C...Your schedule C income will be averaged over the last two filed taxes returns.

You can find good deals on the foreclosure list or tax list. 

Talk to a few F&F lenders about % of ownership requirements to be the guarantor, and if there's a % of ownership which REQUIRES you to be a guarantor on the loan. you can avoid this headache by being strategic as to how the loan (and the LLC) is structured while you wait for your scores to improve again. 

Also there are weather issues with Indiana winters and pipes possibly freezing, thunderstorms and hail damage2) Knowing how long to hold onto a property, 1031 exchange it to another property or DST, or in some cases sell it and pay the small capital gains tax (if any) to have less headache. 3) Underwriting the deal incorrectly (factors: local appreciation, rate of rental increase, economic growth, gentrification of area) and being overly optimistic (a renovated 100 year old home is still going to have problems).

DSCR loans deal with the amount of rents the property will throw off minus insurance and tax liability. 

Not sure what new tax laws bring to the table.

I'm going to have to crunch a lot of numbers for the loan, property tax, maintenance (which should hopefully be low on new builds), and I have to figure out how to obtain an insurance policy for the units. 

Same goes for number of LLCs and what to fund them with, since bear in mind that CA tends to be more cumbersome and expensive to have LLCs than other states.California is generally more cumbersome than other states when it comes to taxes and filings.

Just remember to research specific areas, consider market conditions, and factor in costs like property taxes and insurance.