The platform aims to streamline day-to-day operations, ensure compliance with local laws and regulations, and provide real-time reporting and analytics.

I'm looking to dive in and learn so I've been just trying to practice underwriting lots of deal as best as I can to calculate the cash on cash returns and DSCR ratios.Thank you to all who answer!

I have been the Rental Property Calculator to practice my analysis in the Houston market.

For example, an experienced general contractor who does significant remodels of nicer homes might choose to go into house flipping because their practical experience is directly applicable.

Georgial Law does not require the first lender to notify the subordinate lender of the foreclosure.

Examples of pitfalls include purchasing in an undesirable area, not understanding the market values (vs. list prices), not knowing the rental values (current and market), inheriting bad tenants, buying a lemon, going rogue on renting and management with no contacts / systems / no legal understanding of PA and Municipal landlord-tenant laws, not having trusted resources and contractors in place, using out of state lenders or shaky financing, throwing lipstick on a pig when renovating a house and wondering why it's ARV isn't increasing, tenants are renting, etc.

Closing Attorneys/law firms are another good resource for this. 

It is very difficult to manage when you are not local, don't know the laws, have the infrastructure, and can't react quickly when necessary.

Talk to the current owner to see how long the leases have been in place and the look up local laws to see what happens when the original lease ends (typically 1 year) and what happens if no end date is stated.

In short, it's usually practicing real estate without license, but many people know how to do it "legally".