FHA gets a bad rap because sellers and many agents think it's only for people who don't have the money so if I had 20 percent, but wanted to use FHA, I would present a proof of funds with my offer showing I have more money, but am using the FHA as a financial option so I can get an investment property as well somewhere else.

Your biggest resource will be from people.

That's some people's niche and it works for them.

One golden rule I follow,if it takes a long time to fix/replace when it breaks, don't buy a cheap one.Imagine, this thing breaks in the middle of your peak season and the people who can come out to rebuild are 2 weeks out....It takes at least a day or two to build something like this even if you are super skilled.

Don't expect these people to have anything to do with you once the transaction is over and a lot of bitter, nasty fights along the way. 

Second, people with criminal records are in need of housing and have made great tenants for us.

Quote from @Jim Vasica: I would get some people out there to quote it..

Nowadays, people can make paycheck stubs/W2's that look convincing so just make sure you invest in software that gathers verified information on applicants.  

Mistake #3 was not having knowledgeable people around to be able to ask questions.

I'm new, only been with you guys for a couple days; I connected with a couple people and then boom..