Learning Arizona landlord-tenant laws early and getting comfortable with basic organization and accounting will put you ahead of most people your age.You don’t need to have everything figured out right away.

Managing your own subs saves you a ton of cash, but it basically eats up your life with endless scheduling and coordination.The thing is, it's not always just about the money.

We started with a turnkey rental to learn the basics and build confidence, and now we’re beginning to explore more creative strategies, including seller financing, as we work toward adding our next property. 

I found some PM contracts basically make it harder to leave than to stay, even when performance is bad.

You are right in that a 1st position cash out is like basically hitting the reset button again.

It helps validate the value for the basic appraisals relied upon for the BRRRR refinance but usually comes back to hurt the investor on the exit.

Some basics I like to learn are where are they from, where are they currently working/living (I'm interested in possible personal connections), what do they currently own, how much do they have ($$$) for a down payment + closing costs, are they pre-qualified, etc.

Their CPA can help them with a basic cost seg on that.But for larger complexes, yes, it definitely makes sense to pay a cost seg engineering firm for their services as it can result in significant tax savings.

Caution: When you can use the depreciation deduction depends basically on how you handle the Section 469 passive loss limitation stuff. 

Having that low entry price point, a fantastic interest rate, and growth in value shows that, even with the unexpected, your investment was solid on the basics.