Hey Billy,Welcome to BP.Check out some blogs I wrote for Bigger Pockets a while back that can give you a perception on some if things to look our for when starting:http://www.biggerpockets.com/renewsblog/2015/01/03/invest-for-cash-flow-or-growth-analysis/http://www.biggerpockets.com/renewsblog/2014/12/20/first-investment-property-important-things-consider/http://www.biggerpockets.com/renewsblog/2014/11/15/3-types-of-risks-real-estate-investors-regularly-take/I hope you find them useful.Thanks and have a great day.

Experienced and financially sophisticated business owners are very different from accidental landlords.2.

"Oh, @Wayne Igo  transferred this to his LLC to be sophisticated.

One down town complex that just opened has a theater, bar, meeting/study rooms, wifi, exercise room, pool, coffee/sandwich shop.....can't think of everything but there is more.Funds come from economic development programs and banks, tax credits are involved so the financing at this scale is more sophisticated than small projects.

I know wholesaling has this perception of being a no money down strategy for building capital and that's why literally EVEYONE getting started with no money wants to be a wholesaler.  

Turn the tables and create a perceived value of 1000 and rent it for 800 and people will beat down the door and your perception is you're in a hot rental market no matter what anybody else thinks.

You don't have Dodd-Frank issues in commercial but you can have basically the same areas of concerns with predatory lending/dealing, ability to pay, short fused balloons, management or experience is more of an issue for a borrower, level of sophistication is higher.

The most successful investors don't always have the most sophisticated strategy or the highest IQ. 

We run with quite a few of the big buyers in the city and its one of the most sophisticated investors groups I've been a part of.

The market is made up of a lot of players of varying sophistication (RE hedge funds probably at the top of that stack).