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.

I now operate Iron Goat Home Services as a General Contractor/Handyman.

If you did a septic complete and well drilled and electrical to the space then that has value in appraisal.

That would be for a garage in a convenient location since these always get picked up by contractors for their tool and material storage.

Our contractor stopped working while we took a month-long vacation in Mexico due to lack of communication.

For instance work clothes might be a legitimate business expense of a contractor, but usually it's not.

I need a contractor to rehab 11 units in Cincinnati.

Unfortunately, there is a good number of illegitimate PMs and contractors in the Cleveland area, BUT quality property management does exist here.

Talk with multiple agents, property managers, handymen, and contractors.

Attorney, TC, title, contractors, and agents/property managers.