I made this mistake when I was starting out - I got excited about the returns of a development deal - but I didn't pay attention to the fact that I needed to be a cash flow investor because I did not have a W2 income, nor did I have sufficient passive income yet.It is critical for investors to understand the relative importance of evaluating the sponsor, alignment of interests and the deal.  

We have a 14-page management contract that we've added our real experiences to over the years, with the intent of protecting both us AND the landlord.

Any general advice, particularly for someone who’s relatively new to managing multiple properties, would be incredibly helpful.Thanks in advance for your insights!

That being said, you need to carefully Review Your Documents, Start by reviewing the promissory note and any other documents related to the loan.

Do you ask for full bank statements or only the first page?

It’s relatively simple and, while it does cost money, it’s one of the more cost-effective options.

A cash-out refinance typically doesn't count as "earned income," which is the type of income that would impact Social Security benefits, especially if it's related to retirement or survivors' benefits.

If you are in a relationship and want to invest, there is one thing you must be sure of before you start your journey.You have to be on the same page about real estate investing.Almost every story of a successful investor has a cooperative partnership and agreed view on investing as a couple (and a plan for the kids if they have them).Both parties don't have to have the same level of involvement.

I just ordered that and its relatively inexpensive off Amazon.

BTW if EVERYONE who has ever been contacted by him or through a broker related to him would PLEASE report him to the FED's so that there are more reports on him the sooner they will investigate.