But, your first mistake is putting all those properties in your personal name.

@Krishna SurendraRecommend 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.

This is inline with other organizations that typically say 3% - 5%.imho you discriminate if you try to repunish anyone after they faithfully served time and are off probation. or block they only or singularly because felony. avg 25% are innocent ie 25% of all incarcerations are forced, from intimidation, lying, confession done illegally, unethically or immorally obtained at gun point fearfully wrong. if you have no 1st hand experience please do real interviews, research etc. 25% is just not all from one source  as i said its only starting point. lots felons are for weed. innocence project doesnt handle all cases but based on tiny amount they do cover for free per limited # state and dont cover all states nor have unlimited tax money like local da ag have. they are one example and only handle certain cases. you must dig deeper than one organization or one year. any cop, ag or da makes many mistakes than 1 4. https://m.huffpost.com/us/entry/us_56ac0374e4b00b0...you are ignorant blind or safety bubble hasnt popped yet. some day soon youll be in cuffs and wonder why. its inevitable in police state. and despite your lack of compassion, grace or mercy ill still give you honest chance rent. more than most  courts give people today. 

Common mistakes can cost thousands.

Creating customized procedures is going to result in more work, more mistakes, and more frustration than it's worth. 

One mistake people make it looking at the highest asking prices for comparable properties.

3 Steps To Take Immediate Action:1) Set small, short-term goals (establishing a one-year, three-year, five-year goal has helped me tremendously)2) Seek help from people smarter than you (I am never shy to ask questions, even the stupidest ones)3) You grow through what you go through (We will make mistakes along the way and that is ultimately what will help us become better investors)

What are some common pitfalls or mistakes to avoid when starting a private lending business?

If you have a poor deal be forthright about it but make sure you don't repeat that mistake so you can share a learning experience.

You can hear real-world examples of how others have built their investment portfolio and (hopefully) learn to avoid their mistakes.4.