Big mistake on my part.Thanks again for the reply. 

Then BP, make every LP or Syndication investor read it, before they start posting.Start small and Make Your Big Mistakes Early.It's your money, your Right, even if you're Wrong.    

There's only so much to learn from reading and in this real-estate climate, it would be really helpful for someone who has made some recent investments to afford me 15 minutes of their time. 15 minutes to chat about their journey, challenges, successes, and any lessons learned.Make no mistake.

You are spot on: not considering annual increases for every property is a cardinal mistake. 

Unfortunately, you are learning from your mistakes rather than the mistakes of others, which is always less expensive.

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.

I'm 20 and this'll be my 1st buy and hold so don't want to make any rookie mistakes.

I also welcome things I should know and mistakes you may be open to share so I can have a better idea of what to expect. 

@Jeff EbertRecommend 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.

Possibly take some cash out at the same time if the LTV and equity are within range.No, It is not normal for "Banks" to make this mistake usually its a "Lender" or smaller "Mom & Pop" broker shop.