Any pitfalls or problems or potential problems I need to look for?  

I'm curious if anyone has any good pointers or pitfalls that may help me in the process.Here's my thought process so far:The numbers work. 

(I currently have 2 rentals, but they don't really count because I have a PM manage them)Beyond the "you need to work up to that level" advice, what other advice or pitfall warnings can you give?

I am sure I will get a better feel for the potential pitfalls when I see the property but curious to hear thoughts from the experienced BP members.

Are there any pitfalls I should look out for?

Common pitfalls, etc.?

Thanks for the kind words everyone...it's important and healthy for the this community to inform each other of common pitfalls that can derail our goals!  

There are plenty of pitfalls and perils along the way and a strong mind and desire will be the best tool you bring along for the journey.

It is quite possible they are also charging for an advancement fee, as you described, but I'm not sure why that would be necessary if the expedited target is 3rd business day.Please do correct me if I'm wrong as I really appreciate the opportunity to learn, it is great to understand some of the in-and-outs of businesses around the investment field to try to avoid future pitfalls!

What are the pitfalls for such a thing - I mean I can find out the price through comps.