Multiple times I was called over to fix doors that had been pulled off the hinges, Outlet covers that had been pulled off and broken, towel rods and toilet paper holders pulled off of walls, stuff put down the drains causing back ups.

Soon she asked me to sign a piece of paper that says she can record meetings we have together and that she can go into my apartment and record things if ncessary.

It looks good on paper, but then the real expenses hit.

High cash flow (on paper at least).  

Don't submit the bank statements to underwriting unless you actually need them to close the deal however, as it can cause additional steps in the process for you and your client (if an underwriter sees money moving around, it can cause you to have to paper-trail the funds back to their source, which often isn't a lot of fun).If you haven't completed a loan application, start there.   

Someone will present you a deal that looks great on paper but will fail miserably.  

@Bian Dahab  the floor guy told me if  after you put a wet paper towel on it you can 't see it then you can buff and coat it.

example: i was looking at a multifamily portfolio that was master-leased by a college. that master lease made the portfolio worth, on paper, 10x what each property would've been worth otherwise. it would've been crazy to pay the higher price, because if that master lease ends, i'd be totally screwed. 

Example, while an area may have AMAZING cash flow on paper, what will your vacancy be like because the area is so run down and no one wants to live there?

Then factor in your letter, paper, ink, printer cost, they add up quickly for the scale you want to do.