The biggest issue I see with first-time investors here in Denver and Colorado Springs is not that they buy the wrong thing; it's that they take too long to buy or don't buy at all. 

This is doing you no favors, and an absolute wrong way to approach it.Get an idea of what you're seeking, then research those cities yourself. 

This might work in a strong sellers market, or it might make people wonder what is wrong with the property to be priced so low (and then don't bother to go see it).While I like to price my listings in the middle range of what I think the market will pay, there are (for now) still lots of new agents that don't realize when you've priced low to hopefully start a bidding war. 

So many get the maths wrong in REI. 

I just get the impression that it isn't really worth their time and they wont manage nearly as well as you would but I could be wrong and I'm sure there's a 1/1000 pms who treat the management professionally regardless of the number of units.  

That is their dwelling place and if something goes wrong with the smart lock, then they are locked out of the house.

The burden of proof is on them to demonstrate that you were wrong, and my guess is the amount they're suing for is small claims amount.

This is just one example of many things that could go wrong when a "disqualified person" is involved in the transaction with the IRA.

The biggest mistake that I see out of state investors make is unnowingly buying in the wrong neighborhoods and buying the wrong asset class.

That's why developers sign the option with landowner, so they can leave if things go wrong.