For whatever reason I think the idea got out there that you get $10k, buy a house, refinance all the money out of it, and end up with a portfolio of 10 houses leveraged at 80% or more and just sit back and watch the bucks roll in and quit your job.

It saddens me because the neighborhood is going to have to watch this house degrade further over the next couple years if it sits in REO limbo.

I have recently been educating myself by reading books, listening to podcasts, watching YouTube videos, and attending workshops.

Luckily it is easy to spot under some scrutiny.Most people here just use Airbnb and VRBO and they collect and remit the payments for you so you are protected, but something to consider watching out for.

Betting that is going to happen again while new smart participants have entered the market(sophisticated players like black rock) and retail (everyone who watches finance youtube knows about real estate) I think is a foolish bet.

I've boughten courses, read books, and watched videos but there is a ton of information being gatekept.

By watching these videos I've recently learned I already made my first mistake by buying the wrong property for our 2nd home, lol.

As you read these books, watch the BiggerPockets podcasts.

Any tips or guidance on what I should watch out for ?

Watch major Duggan's State of the City address he just gave the other month (google it).