I look forward to learning as I go, but I'd also love to hear your advice and common mistakes to avoid.

And how is texas fourth worst?

Verifying last 2 years of rental history and income extremely important to find the “best of the worst”.Make sure you understand the Class of properties you are looking at and the corresponding results to expect.The City of Detroit has 183 Neighborhoods we’ve analyzed.PM us if you’d like to discuss this logical approach in greater detail!

Its a big mistake that many owners make, not allowing pets.

I'm still making mistakes and learning but if you have any questions I will try my best to answer them.Kim

The “worst” appraisals I’ve seen (on a consistent basis) as to over valuation are on non operational health care facilities.  

Latchel is the worst. 

So, real estate agents may do it part-time, but rarely do they do it well.Recommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.Check out NARPM.com, BP’s Property Manager Finder (BiggerPockets: The Real Estate Investing Social Network), etc.Also, encourage you to learn from the mistakes of others - by reading posts here on BiggerPockets about owners not having their expectations met by their current Property Management Company.

Calculate costs with conservative rent to understand your worst-case cash flow.

You are NOT responsible for tenant mistakes, neglect, or abuse.If the tenant installed the washing machine, they are responsible for paying for any damages caused by improper installation. 1.