As you might expect, most B&H investors are mom and pops and kinda hold a low profile. 

Hell, look at all these real estate gurus popping up everywhere.......anyway there are many ways to learn. 

Most of them - especially the small mom and pop operates - tend to overstate income (If you raise rents you'll make this" and understate expenses by conveniently forgetting to include some of them. 

Mortgage $2500 Rent $2100 Average rent for the area $3484Yes, we also realize that they are the “Mom & Pop property managers” that BP always talks about!!

I see the Green Bay REI events pop up, but it's next to impossible to get up there in time from Chicago.

Perhaps in the smaller commercial space where you are dealing with mom and pop type of properties you might ask for and receive a Schedule E, but in larger transactions you just don't typically see that.

@Maribel Aviles,This just popped up to the top for me.

For retail centers you could have all national tenants, some mix of national and regional to mom and pop, all mom and pop.

Pop didnt raise a fool .  

(Heck, anything can be misconstrued into a legal issue, but I'm curious what you think might pop up.)