So, when investing in areas they don’t really know, investors should research the different property Class submarkets.

If you plan to invest in multiple states or require advanced asset protection, consult a CPA or attorney to explore options like a holding company structure.

I think it is different if you live there, speak the language, know the market.  

If we're talking about some Section 8 houses in Cleveland or Detroit, sure, I am with ya, I live it every day, but what we're talking about right now is a different world.

I had the lease wording that says in slightly different wording "This lease is for a year.

I also invest in other assets such as stocks, and private companies as well.

10) Knowing what to do if tenant is late on rent or doesn't pay.There's a lot more, but many here on BP self-manage and learn via "trial by fire".Of course, you can always hire a Property Management Company to handle it for you.

So, when investing in areas they don’t really know, investors should research the different property Class submarkets.

We had to pay a biohazard company over $9k for a thorough clean up.

@Jordan Laney the devil is always in the details when you are hiring a PM company.