I'm not a beginning investor but my previous properties were acquired pre-2013 but I've made beginner mistakes trying to grow buying "cash flow on paper" Class C properties in 2023. 

Ran into a bank in Texas who didn’t do construction loans due to the papers work.  6.  

A property doesnt increase in value just because an STR is run successfully on it. its value on paper is based on the comparables in the area.

Most folks chase paper-returns and overlook the real wealth drivers in REI. 

I'd suggest using a minimum of 25% of gross rent to cover expenses on paper until proven otherwise on any given property.Only you can decide how much cash flow is acceptable but I wouldn't consider something that essentially breaks even.

Please do both of us a favor, and write it down on a piece of paper and burn it.

.- You will have to come out of pocket for the arears, fees etc, just to get into "contract" some times $20k or more and all you have as protection is the word of someone who's proven to be unreliable and a signed piece of paper... 

over and over. .Your paper is due friday by noon.

You’re not required to rent to someone just because they look great on paper, but you should ensure that your reasons for declining them are grounded in business-related concerns (e.g., concerns over rental history or ability to care for the property, if documented).A good practice is to follow a consistent screening process for all applicants. 

Don't be fooled by the returns you see on paper in the midwest.