@Devin ArrigoHonestly you'll probably learn more while closing on your first deal than in all of the books/forums/posts you've every read - this is coming from personal experience.One thing I would highly recommend during escrow - order a full property inspection and be there when the inspector is on suite doing their thing.

Perhaps a nice 1950's built bungalow.Always hire a 3rd party property inspector to give you an unbiased feel for the home.

Many sellers / agents consider the inspection (on your own, with a contractor or by an inspector) as a sign that the person is serious as it is a commitment of time and possibly some money. 

Someone with connections to finance, contractors, inspectors and PM also would be great. 

After the crash in 2008, I went to work for the DoD as a construction QA inspector.  

Should I pay an inspector before making an offer or just go for it?  

Perhaps a nice 1950's built bungalow.Always hire a 3rd party property inspector to give you an unbiased feel for the home.

Perhaps a nice 1950's built bungalow.Always hire a 3rd party property inspector to give you an unbiased feel for the home.

They are all in stable neighborhoods composed of primary owner/occupiers in markets with strong 30 year population + job growth forecasts.Sources of risk come from a variety of sources, starting with (1) the market, (2) the property and location, (3) price you pay, (4) management strategy, (5) rental rate you set, (6) rehab budget, (7) service provided to your tenants and how strict you are with them, (8) your ability to attract and retain high quality brokers, leasing agents, inspectors, handyman/contractors/agents, etc, etc., (9) level of investment experience you have, (10) familiarity of the market, etc.As an investor, one of my primary responsibilities is risk management... my ability to fully understand all of the risks that I am taking and put processes/structures in place to minimize or control these risks.And if you are a successful risk manager, i have found that in REI you are able to mitigate the downside and generate returns that ARE NOT commensurate with the risks you are taking and do so by providing a triple win to your investors, your tenants, and yourself!

A reasonable fee for walking properties for you and being a first-line inspector sounds fair.If you ask, they will probably discount the commission or recomp you in some way a portion of this if you buy through them.