You will get several things:- time to ask them questions (have a list, 4-5 questions ... save as a note in your phone)- build relationship with someone who might help buy or sell a house, who knows, might even be your property manager down the road ... make sure to mention this as you recognize their time is valuable - see overall condition/finish on properties so you have a sense of what you need to do in your rehabs/ make ready before tenants are placed - someone who deals with the properties you want on all the time, and can give advice and insight on where to buy, what they rent for, and any other idiosyncrasies of the area/block/town/city .. etc 

A full-time tax preparer would have instantly recognized that this form would have been needed.As the complexity of your business increases, so does the risk of audit.

I've seen enough rentals to recognize a "good" tenant.I don't really follow any 50% rule.

I recognize you've got that in place already.

IF they are just a "private lender" lending to you directly, recognize that you are diving into a shark tank where many newbies have been eaten alive.I don't care where you met him/her or how nice they seemed.

At one point the dishwasher leaked and the tenants didn't recognize the problem until much later.

However, recognizing that there are questions you may not have even thought to ask yet is a step in the right direction.

You are on the right track, especially if you can recognize the tax advantages that real estate investing has to offer.

Break these things down and ask questions to help you get to the point where you can recognize a good deal when it pops up.

You need to learn to recognize the difference (or bring a coach along who can point out the difference).