Also, be very open to your investors about the risks and expectations for the property -  communication up front and throughout the project is critical!

I am trying to soak up knowledge and Your critical comments are annoying.

I'm not criticizing you for how you feel, far from it. 

I'd say more for new investors, it's more critical to just not get into a heavy rehab situation or anything else more advanced.

Demonstrated enthusiasm for real estate with a high degree of creativity, vision, and technical aptitudeHigh level of communication/critical thinking abilityInternship or work experience in real estate or finance industry preferredWork well in a team based environment with open communicationAbility to analyze financial statementssome of the other things asked to analyze financial statements.I have started reading but plan on taking principles of accounting for a short 3-week summer course for credibility. 

This may not seem like "income producing" activity at the moment, but it's critical for putting yourself in a position to generate revenue.2) Get to know the buyers in your area. 

This way your equity even is giving you a return.Once your portfolio reaches critical mass, or you hit your target numbers or cash flow you can transition over to paying down debt to prepare for the final distribution phase.However, people need to retire at some point this is called your distribution phase, so when that time comes be sure the properties are paid off by that time to maximize cash flow in retirement.A great book on this topic and more is Gary Keller's  The Millionaire Real Estate Investor. 

Going to a great university does something to your brain: critical thinking and just the way you see the world and decipher life.

I’m also only on round 2 for most of the letters so I know I should hit them for 6-8 times before I really get critical but

And If my statistics don't lie to me - people usually do not purchase the house after all simply because of people's habits rarely change, especially in a good way.Please, criticize my view of this topic as much as you possibly can if you personally dealt with leasing your properties.