I own and self-manage 9 small multi family properties (22 units total) that are very stable.  

and others say "make sure you are somewhat financially stable before you buy your first property."

I wanted to buy a rental property but became discouraged when the bank wouldn't give me a mortgage (they actually wanted me to have a stable source of income lol).

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!

@Jason Wear  Let the credit stable again to get better interest rate on next property. 

It can be a bit of a pain, but I found this is just the best process.I have used Simplisafe, but the challenge is the project has to be far enough along to have power and internet so you have a stable conditions for the alarm system.

I am extremely motivated and focused and should have it payed of by end of summer and have my credit score up.....I really want to get into own house but know getting rid of that debt would get me a better loan and free up cash and make me a lot more stable in my first home.

North Canton is a stable area, solid school system but having levy issues. 

We just have a good stable of contractors and get them over to fix things.  

I feel like electrical,plumbing and flooring and walls and waterproof everything and make stable and good but not go to far like making where we wont have to touch for another 20 years at last.