@Stephen Montez from what we see here on BP:1) Investors NOT knowing how to get properties under "market" value.They all expect to pay price in MLS and cashflow.2) Not taking the time to understand different property classes and their pros & consThey often buy a Class C rental for the low price, yet expect Class A results.3) Trying to DIY manage without doing their homeworkThey try to penny-pinch, yet their mistakes cost them dollars.

That is what the attorney is for.Because you made the MISTAKE of letting this tenant know you are the owner (nothing good ever comes of this, despite what many posters state), you may need to tell a white lie to extricate you & your wife as the "bad guys" he'll hold responsible.Maybe tell him your "partner" is taking over because they don't like how you're managing the property. 

Some of my best contractors are ones who made mistakes early, but showed a desire to grow and energy to work hard, and therefore our businesses grew together.

You'll also probably still need to pay a buyer's agent around 2-3% (negotiable) because most buyers are represented (as they should be because they'd make beginner's mistakes otherwise).

on how you got started, what mistakes did you make, how much money do you feel a person must start with, what did your first deal look like, and which method of real estate investing did you do and what are you doing now (rentals, flips, etc.)Thanks!

I was getting worried that I may have made a mistake in investing in a furnished unit but am now breathing a sigh of relief.

The letter from the landlord was unsigned and many misspellings and grammatical mistakes. 

I joined and realized I made a mistake as soon as I did.

I see a large percentage of landlords try to save money through self-management only to lose significantly more due to the mistakes they make.

Still sizable, but the power of the strategy will decrease.This feels a bit like click bait.A loophole in the law is a small mistake which allows people to do something that would otherwise be illegal.This is kind of like saying I utilize a special real estate purchase loophole for my clients, allowing them to reduce their cash at COE with seller concessions.