Understand the cost seg and its benefit.

@Salvatore Amato The reason everyone is advising against C & D Neighborhoods is because the risks are so high.If you choose to pursue BRRRs in these types of Neighborhoods, be sure to fully understand these higher risks.RISKS:1) Break-ins & vandalism- In our local C & D Neighborhoods, we remove furnace & hot water tanks when a property is vacant, to avoid them being stolen.

Seems very comprehensive and intuitive.

@Shima Noga,This time understand the REP or run a true STR with material participation.

What’s more important is that your CPA has deep experience working with real estate investors — especially those who own both long-term and short-term rentals — and understands strategies like cost segregation, depreciation, and short-term rental material participation rules.  

If you plan to use the losses for tax savings, understand REPS, STRs, and Active Participation.This post does not create a CPA-client relationship.

Taking time to understand each other's business is very important in our business.

My understanding is that the LLC can easily be pierced anyway so that is why I opted for Umbrella Insurance.  

The Sellers typically have to disclose any material facts about the property, but you are flying blind is my understanding?

I'm not sure I understand what one thing has to do with another, @Tracy Thielman.