I'm looking at home equity loans for another rental property we own currently.More than likely, we'll have to put the property back on the market and find some cash to cover the difference between current construction draws and sale price.It's an expensive mistake - but we'll be back again to fight another day. 

We can share stories of mistakes and timelines that have been made along with great successes with servicers over our past 10 years. 

Bigger Pockets has a wealth of information and the forums get you even more information that can save you from making a mistake. 

Lot of people are going to tell you go for it and build your team later but that’s a huge mistake.

A common mistake I observe are investors focused on unit count rather than the fundamentals of the underlying real estate that's being bought.

Once in awhile, some internal person makes a mistake and there is a slight delay.The bigger problem is screening S8 tenants to get one that pays THEIR part of the rent on time and takes decent care of the property.We just had eviction court today with a tenant not paying their rent portion AND deliberately causing damages, so their home failed the S8 inspection.

Mistakes will be made, which can cost more time and money.

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.

And when you grow too fast (especially in a volatile market like the one we're in) mistakes can get made.

The biggest mistake is not truly understanding the exit strategy.