Nearly 3 years and 5 properties later I still feel like a Newbie

Our phase one plan is to purchase 10 SFH with minimum annual cash flow of $4k each before 2017. We have four SFH and one duplex. Three of the SFH and the duplex are rented. We are in the process of rehabbing property five. I have an appointment to walk through potential property six this weekend. So why do I feel like a Newbie ...

Every situation is new and offers a learning opportunity. We just experienced our first tenant turner over in April. It went perfect. No vacancy, the previous tenant cleaned the property better than they received it, no cost was incurred prior to new tenant moving in. We successfully raised the rent $20 dollars a month. I'm guessing it will never go this well again.

At another property the tenant lost their job and can no longer afford the rent. They are moving out in July and we have not found a new tenant. Looks like a vacancy in July. Not happy about this one. A robust tenant find process will be fundamental to our success. We don't have one yet.

Our area has experienced heavy rains this year. Two properties had water get into the basement recently. Unfortunately one basement was finished. This week I drafted our first company standard procedure: Basement Leak Preventive Maintenance Guidelines.

These are only a few examples. Every couple a months another learning opportunity presents itself. Don't get me wrong, I am enjoying every minute of being a Real Estate Investor but I have accepted that I will feel like a Newbie for sometime.