Any tips, warnings, or real-life lessons are welcome! 

Just remember that wholesaling is much tougher than all the gurus make it seem to be, but not impossible at all if you create the right systems and understand, when you are new, that you are solving problems, not throwing cash.

💹*Reminder- The Pearl Development is predicted to create over 11,000 jobs in Mecklenburg County within the next 10 years & will be both a medical education institution and an international headquarters. 

I have had inspectors look at rooms on renovations that were not permitted (we weren't even doing work in the rooms) and asked that certain changes to be made to bring the room up to code (it was minimal).

Work with a knowledgeable SDIRA custodian to ensure compliance with regulation.This post does not create a CPA-Client relationship.

And it's an asset that will grow with you for the rest of your life.

We would like to learn about how we should have went about it so that we can purchase more properties, minimize mistakes, and reduce our reliance on corporate life.

Assuming you are both working and the rentals are long-term, rental losses up to $25,000 can offset W-2 income if your MAGI is under $150,000, with excess losses carried forward.This post does not create a CPA-Client relationship.

Have multiple exit strategies, do not be over leveraged, and make sure you are factoring market changes.

Withoutknowing the details I can not suggest which would be right to add on.Several you should pay attention to are:- Ordinance & Law: Provides additional building coverage to deal with rebuilding costIncreases due to changes in Zoning or Building laws- Personal Injury Liability: Libel, defamation of character, wrongful imprisonment, etc.