Cash flow is mainly a mechanism of leverage in the deal.

Make 80% of all your failures on paper first.

We have a lease clause that plumbing issues caused by the tenant that are not the result of a mechanical or material defect in the plumbing material are billed to the tenant.

Although management has always been the key to success or failure. 

This agreement with your general contractor acts as a roadmap, with clear expectations and protection for all parties involved.One frequent mistake is the failure to include sufficient detail or being too vague.

One piece of advice I often repeat is that the goal of diversification is to reduce or eliminate any single point of failure.  

While syndications were the rage the last few years, I’m quietly hearing more about failures.

Failure to pay rent would be. 

There will always be a level of fear of failure and you will most likely experience some, mitigating that with diligence will keep you in a healthy state of paranoia.

Luckily I didn't because it's great now...but I didn't know that at the time.So I'm going to push back on the numbers people and say I don't think you're looking at the big picture and I also don't believe your numbers protect you from failure or guarantee success.