Hi Cara & Jonathon, I'm new to the area (from Seattle) and am preparing to activate investment in the area.

Hi all, My eviction attorney told me something interesting: that if I send a tenant a lease renewal with a rent increase, the renewal must also include a notice to vacate — otherwise it’s not legally valid and is basically worthless.The reason I’m confused is because the official lease software I use (which is supposed to generate legally compliant leases) does not include any notice to vacate when preparing a rent increase renewal.

What information/package should I prepare when presenting land development opportunities?

My experience is you are better off seeking the advice of a qualified professional for tax advisory and tax preparation.

While keeping cash deployed in new opportunities can maximize potential returns, maintaining a reasonable reserve ensures you're prepared for the unexpected and can sustain your investments over the long term. 

•Besides saving, what should I be focusing on right now (networking, market research, skills, etc.) to prepare for my first deal?

Since we didn’t see any visible mold and the tenant is a smoker, we dismissed it as humidity and did not take action at the time.Later, while preparing renovations on the vacant unit, we discovered signs of water damage/mold in corners where the ceiling and walls meet.

The upcoming wave of maturing loans is definitely creating some unique opportunities for investors who are prepared.

(There's a continuum, I get it - but hopefully the sentiment lands.)Of your "questions" at the end of your post, I think your first outcome (1.) is probably the most likely and I would begin preparing for that eventuality (i.e. engage a L/T attorney, procuring cash reserves for non-payment during eviction, funds for extensive renovation). 

I'm just a few hours south of you in Celina, TX. 1 - Decided whether you want to try and be an operator or just a landlord to an operator (much different risk profile). 2 - See how others are doing it/find who's doing it in the market you want to be in and serve them/know them3 - The need is never ending, position yourself for at least some scale but prepare for it to take a while as not every house and neighborhood will work. 4 - Have a great attorney who knows the space IN YOUR MARKET to protect you.