However, I know there are always unexpected pitfalls, and there are people on here far more experienced than myself in the realm of investing.

However, I do agree with you that if you do not have a solid income vacancies and unexpected repairs can be a major issue. 

There were some unexpected issues with the home I didn't count on (new furnace, all new windows, etc.) but it worked out. 

@Alex Tobias  for multi-family, I would renegotiate the offer if during due diligence something came up massively unexpected by all parties.

This unexpected higher rate erodes a borrower’s expected cash flow and ROI and may change the “out-of-pocket” capital required to close the transaction.The uncertainty affects both borrowers in the midst of a transaction, and those looking to refinance an asset in the next 24 months.

Hi, I have a large unexpected expense on one my rehabs and I'm trying to keep my costs as low as possible on other items. 

I also agree with  @Steve DellaPelle in making sure you are financially stable enough and comfortable with the process and any unexpected expenses.

We overestimate our numbers to leave us some room to work with and not fall into unexpected surprises.

Money partners can come from very unexpected places.

The simplest of these still took an hour.I was delighted to avoid the commute to a title office, and they were happy with their job.I really think its a trend of the future...not at all a scam.