Alton, IL  I think people fail to realize when getting a loan you need income and collateral.

As I realized, you want to make it very well known who you're looking for.

I now realize that this is only attainable in highly desirable locations and with larger or more unique properties.

I didn't even realize at the time what lessons I was going to learn in the future my father was an accountant and an exceptional bookkeeper and a math genius to be honest.

@Ray HageI agree as I would stay away from condos as between special assessments and increase of fees, what is the risk vs reward.Many of these buildings are run by people who are not property managers or have development experience and lack the knowledge to properly run the propertyAlso many don’t realize that on older buildings your initial estimate will be 30-50% less once the work starts, especially on older concrete buildings that are susceptible to deterioration due to the weather in these areas (especially the salt)

You could look at filing a complaint against the original contractor - realizing those don't often go anywhere, but it's something.

You are still overthinking it a little: no need to incorporate inflation, because it is just a devaluation of the currency, so it effects income and expenses alike.The fact that you are planning for capex items already puts you ahead of at least 50% of new investors, who just think about PM and repairs.One major realization is that you need equity growth to pay for capex.

It does take some time and understanding of your numbers to find the right property.I realize appreciation across most markets isn't as good as it has been over the past 10 years, so I feel it's important to buy in areas where appreciation is more likely. 

Reading this list I begin to realize why most burn out and thus not retiring from a successful career as an Agent. 

So, the more we talked the more the seller's side realized they should negotiate the LOWER offer.