One last item about recording: check your local and state laws concerning recording with or without disclosure and consent.I hear the groans. 

He has so many great insights and actionable items within his book.

We have also actually fired two homeowner clients because of their lack of willingness to repair items that we felt were unsafe.If you are going to self-manage, then self-manage, including periodic comprehensive safety inspections, and making necessary repairs.

You won’t be responsible for any large maintenance items, like replacing the HVAC, and you can move at the end of the term without having to worry about market timing, showings, or closing a sale.

Also even if the cost segregation consultant treats something as personal property for purposes of his or her study, if local law treats that item as real property you can still include in the Section 1031 exchange.

1 - closing costs both ends, holding costs, make sure to know costs of all POS items / reinspection's / what they could identify on future inspection, rental registration etc.2- As long as you are satisfied with the return I would3- If you can use hard money and use the cash for another deal at the same time or put it somewhere else to grow I'd do that.

If I need real rehab numbers, I’ll get line-item estimates from 2–3 GCs to qualify for a hard money loan.

Start with an electrician, plumber and HVAC guy since this is how your project should start which is figuring out all of those items (Find guys at the trade specific supply yards)As you hire in the subs ask each of them for a good referral for the other trades. 

Here's a quick list we use when advising clients:Avoid septic if possible (higher long-term maintenance)No power lines or flood zones (hurts resale/rentability)Good school district and low-crime zip codeNo HOA or landlord-unfriendly restrictionsBuilt after 1980 to minimize major capital items (plumbing, electrical, HVAC)Single-story brick homes rent well and cost less to maintainFor a deep dive, check out the BiggerPockets books “The Book on Rental Property Investing” and “Buy, Rehab, Rent, Refinance, Repeat (BRRRR)”.

When there are items that need attention at your cabin due to this tighter process, we will notify you what those items are, give you our recommendations, and give you an estimated cost to bring everything up to snuff.I know that no one is particularly in the mood to spend money on their cabin right now, but it will be very important that things are kept tip-top to keep positive reviews coming in, which then impact your future rental revenues.