Additionally, an LLC can make it easier to separate personal and business finances, simplifying tax filings.Quick Tip: Work with a tax advisor to determine whether an LLC is the right structure for your investments.4.

This is a good reference for myself and personal private lenders.

If they have not, many landlords will give bad references and it will backfire on the tenant.

This is my first personal mortgage so I'm trying to learn the game.

these investors were all chasing easy OOS cash flow:https://www.biggerpockets.com/forums/963/topics/1195280-expe...https://www.biggerpockets.com/forums/48/topics/1160450-run-i...https://www.biggerpockets.com/forums/48/topics/1137397-balti...https://www.biggerpockets.com/forums/52/topics/1010977-12-00...if you're serious on investing in an OOS market i'd pick one, get to know it, go to it in person, and build a team, and then determine what would you need to do to get a good return in that market. 

I personally learned I enjoy local investing in residential properties.

Do you have other collateral, such as another income property or your personal residence (last resort) your seller could record their lien against? 

You must have your personal finances in order before you invest.

For example is a personal loan from a bank is 7.5 % that you could use as a down payment (after its seasoned), and your 401k loan is 4.5% but the 401k is expected to return 7.5% per year the money you save on one end you miss out on the other end basically and if your 401k returns are 20%, then you lose out significantly. 2.

Cat odor is far more problematic than a small dog, but I would check landlord references to confirm how they've maintained their last residence.