Once you understand these basic things (a several more) you will be in an educated position to put in credible offers that can turn into successful ventures. 

I'm 41 and have a successful career thus far in the Investment Banking space.

Background checkCredit checkPast performance.

You'll also make 6x more in rental income than if you successfully did 2 BRRR deals, all while being a passive investor.Just make sure you run the numbers for all of the above scenarios with each deal you come across.

They think there's just some magic pixie dust out there that makes you successful.

I've had success simply informing the tenant that I plan to involve a collections agency as a next step if they don't pay what they owe.

I’d love to hear from anyone with experience in this space—success stories, lessons learned, or even things to watch out for.

Ensure your records include details of any hired help and the tasks they performed.

Nice to meet you, and I’m looking forward to seeing your success!

.: Quote from @Chris Seveney: @James WiseI was sitting next to a doctor at a conference who did a private money loan and lost $$200k then he did a jv deal where he became co-owner of a LLC, gave a personal guarantee on the asset and put money in the deal to buy it but didn’t put a lien on property so partner went and leveraged the assets as well and ran off and dr had personal guarantee.They then bought a property and renovated half of it then decided to knock it down….I had a successful shoulder surgeon ask me to list his apartment building that was under-performing.