There are markets where you could end up owing your tenants 3x the security deposit if you make a mistake.

Biggest mistake I feel that Ive made so far. 

If you can't sell, you're probably not going to build a solid business.Don't make the mistake of romanticizing business ownership.

I cant tell you how many consultations I've had that have literally saved people from thousands of dollars in mistakes because they were trying to do something impossible that some tik-tok scam spouted off in a 30-second clip.

That was my rookie mistake to not vet the actual sponsor better.  

The reality is that the insurance landscape has shifted dramatically in recent years, and underestimating those expenses can be a costly mistake for syndicators and investors alike.Insurance Escalators: A Changing RealityYour point about the outdated assumption of a 3% YOY increase in insurance is spot on.

I feel like it wouldn't be too hard for me to make a 10k-30k mistake on my own in the school of hard knocks. 

Worst damn money move of my life!

While I would never invest in NY as James mentions as its the worst - if I was going to do it I would atleast make sure I tried to follow the rules. 

We've made mistakes along the way, but nothing so detrimental it put it us out of business.