Only work in pairs for safety.

Effective communication with tenants is essential for any property owner/manager.

Which is essentially that the landlords can get away with not filing 1099s.That said, however, I concur with my colleagues on this thread who advise their clients to file 1099s regardless.

Essentially, the ability to have your purchase price + rehab costs <70% of the ARV, so after you rehab you can find tenants & then refinance to get all of your cash back.

Good news, I've spoken to make lenders (FCU's specifically) and actually found one that does "Essential Worker, Zero Down Payment" program that has reduced rates and no rules against already owning houses in the area.

At least make sure you have the essentials; location, views, hot tub, nice decor.

It's just kicking taxes down the road when you will essentially have to pay back what you deducted leaving little advantage.Below is not a complete list, but has most of what we are looking to do.  

If you invest yourself you will likely reap more rewards but you're also going to take on the pain of your mistakes If you invest as a limited partner you're essentially going to get paid to learn with less upside#7. 7.

Safety Net - Aside from saving up the appropriate DP and Closing costs, add in a safety net to allow you to start in the “green” from day 1. ($5-7k is a good start for a duplex/triplex)

The set up is essential.