I made a mistake purchased an HOA foreclosure auction, now the bank schedule a date to foreclose the house.

@Jim Bo biggest mistakes investors make when doing business with friends is NOT treating it like a business arrangement.You'll need a detailed partnership agreement covering buyouts, capital calls and what happens if one of you dies.Why would you pay him while he learns property management?

If amount they need your approval for is not specified already in contract, send them your pictures of how you left the house (hopefully you took extensive photos before turning it over to them, like under every sink cabinet, every bathtub etc) and ask them to have the cleaning service modify the bill as it must be a mistake, then have a frank conversation about expected maintenance costs, hourly charges and amount they need to call you first before ok’ing on your behalf.

A lot of first time investors make the mistake of falling in love with ONE strategy (maybe STR, or multifamily, etc) and then wanting to learn everything about that strategy before they take action.

The same for flips, the learning curve is steep and a simple mistake can set you back or take you out of the game altogether.

@Matthew McNeil - you made one possible mistake - you quitclaimed the deed to the property - operation that usually doesn't carry the title insurance.

It should really help you avoid a lot of mistakes other out of state investors make here.

@Rebekah Bloom 1st mistake buying without a team in place..Its all about your team BTW, whenever I buy a property that is occupied I get 3 months of rent from the seller escrowed with my title co.

JUMP IN. do not make my mistake and consume too much content or videos or podcasts.

They were all top notch individuals who absolutely cared about me, looked out for my best interests, provided first class service, protected me from making beginner mistakes, and earned their commissions by saving me money on the transactions that we did together.