Keep in mind rent control is 1 thing, its a laws for existing tenants but some city's like Newark are so strict that you must get approval for what rent can be even after a tenant moves out and new ones move in. 

Looking forward to meeting like minded Real Estate Investors

other than the constant warnings and warning posts I dont think you can expect BP to be the gate keeper for Guru class's  keep in mind some folks do succeed and the cost of a guru package to them was one of the best things they ever did. 

Going forward keep it front and center of mind that analysis of property is 1/3 the action.

Just keeping an open mind in case there is something I'm missing.  

This is way more conservative than a lot of people I talk to and has definitely meant that I lost out on opportunities, but it gives me bigger peace of mind and in shifting markets I feel better prepared to adapt if need be. 

@Chris Kelly It is very hard to evict someone for a lease violation and never mind something that is legal to do in the first place.

With that in mind, I’ve decided to focus first on finding a distressed SFH that I can add value to, live in for a few years, and keep as part of my long-term portfolio.I like your suggestion about building the “core 4” team—agent, lender, contractor, and property manager—and will definitely prioritize that as I move forward.

Mind you, with mortgage interest rates in the US being so much higher now (and seemingly for the foreseeable future), I wouldn't be surprised if LTRs in Europe would cash flow better than in the whole US nowadays (to be verified).This being said, I don't and would never invest in LT rentals outside of North America  as I wouldn't want to face unfavourable landlord/tenant laws as a foreigner.

You will always have to be an asset manager of your property manager as your property manager is not a mind reader for your investment strategy decisions.