Finally, always remember to steer clear of BIAS and discrimination when leasing to others— this is critical and can ruin you quickly.

Somehow, in his smooth rat brain, he thought that was the secret to making money in real estate -- getting other people to do anything that looks like really hard work with uncertain outcomes for you.It all put me in mind of a well-known passage from one of Theodore Roosevelt's speeches:"It is not the critic who counts; not the man who points out how the strong man stumbles, or where the doer of deeds could have done them better.

Yeah, the people are critical in the U.S market, for sure!

I encourage you to post your analyses and welcome criticism because you'll pick up a lot from those who argue and tell you you're wrong so don't let that get you down.

Your words of advice, constructive criticism, and/ or comments would be greatly appreciated!

If you don't know off hand what percentages your local lenders will require, talking to them to find out is critical to the success of your exit strategy because you'll want to know how that the property fits your local lending criteria.

@Russell Holmes, yup, best skills you can teach them -- critical thinking, long-term goals with short-term milestones, and self-reliance. ;-) good luck.

@Mitch SmithI feel ya, part of Dale Carnegie's golden rules is "Never criticize, condemn or complain" and blasting someone in our industry could construed as violating that. 

It is critical you understand all the terms.

Am I missing any critical expenses to add above?