Examples of pitfalls include purchasing in an undesirable area, not understanding the market values (vs. list prices), not knowing the rental values (current and market), inheriting bad tenants, buying a lemon, going rogue on renting and management with no contacts / systems / no legal understanding of PA and Municipal landlord-tenant laws, not having trusted resources and contractors in place, using out of state lenders or shaky financing, throwing lipstick on a pig when renovating a house and wondering why it's ARV isn't increasing, tenants are renting, etc.

I would much rather see wholesaler operating under the “I’m going to buy your property but not really” system sued for fraud and have fraud established so thoroughly that almost nobody would offer on a property they did not intend to close on.  

Use this rating and classification system I have created over time to get an idea of the "Class" for the area - A class B class & so onHere is my rating & classification for each livability score.80 and above A+78/79 A76/77 A-74/75 B+72/73 B70/71 B-68/69 C+66/67 C64/65 C-60/63 D59 and below F

Duplexes often have shared systems (plumbing, HVAC, etc.), so make sure these are in good condition.Maintenance Costs: Older properties may have charm but could come with higher maintenance expenses.

The architect should also be the one making the submissions through the eclipse system.

I agree with Ashish, great pointing out that although creating a property management type system could open up capabilities for Solo 401(k) and SEP IRA contributions, it can be easier said than done.

I decided that if I am to do this and put up with it I would get more involved with system to get a better understanding of their mind set.

I am learning a lot from BP on how to set up a property management system to begin learning the proper way to structure a rental property portfolio. 

A single person can reach out to 100-200 owners a day with a single line dialer, many more with a multiline like Mojo Dialer.3) Once you have a system in place, you can hire a VA to help you cold call and just hand off the responsive leads to you (they won't really hand off appointments). 

I think this is the gift and the curse of a still emerging asset class (short term rentals) - as it becomes more "institutional" i.e. more like commercial real estate with more sophisticated buyers then financials and systems for this will likely become more streamlined and stable, but we are still in a place where the buyer pools are more newish investors or typically residential basic investors, so not has experienced or sophisticated evaluating investments based on a detailed financial analysis like more seasoned commercial investors likely would.anyways, just a guess on what might be going on here