And finally, What are some common mistakes new real estate investors make, and how can I avoid them?

I’d also love any advice on avoiding common pitfalls and how to build a strong foundation in real estate investing.If there are any resources, local groups, or even personal experiences you can share, I’d be grateful.

That is very common by savvy investors.

This is one of the most common challenges in the LA County community on BP.

USDA Loan (0% Down) – For properties in eligible rural areas (not common in Chicago but useful in some suburban/exurban areas).House Hacking Benefits: Lower upfront capital requirement.

I'm based in WI and there are several people from NY investing here, some successful and some not---the common thread I see from the ones that are not is that they relied on someone else for information instead of investigating, VERIFYING and doing their own due diligence. 

I am a voice of common sense and help them come up with the best way to manage STRs.

It is common for a property owner to hire an owners rep to perform the services you suggest, but this tends to be larger scale projects where there are more meaningful fees available. 

Buildium is commonly recommended for smaller PM companies.

.⚠ Fabricated Offer Letter or Pay Stubs – Unfortunately, fake employment documents are common, and verification through HR is one of the best ways to confirm legitimacy.⚠ Unstable Employment – They may have lost the job or never actually started, making verification impossible.⚠ Other Issues – They could be hiding something (evictions, unpaid rent history, or other financial instability).What You Can Do:✔ Ask for the official employment verification letter – Many HR departments provide standard verification letters upon request.✔ Verify pay stubs – Cross-check them with bank statements to confirm deposits match.✔ Call the employer directly – If HR is off-limits, ask for a manager’s contact instead.✔ Stick to a Consistent Screening Process – Fair Housing laws require uniform screening criteria, so making an exception for one applicant could lead to discrimination claims.