And remember there is always another one - if you fail to prepare then you prepare to fail...and as Henry says - start small and make your big mistake early.

Aside from well drafted contracts protecting all parties to a business transaction, the process of preparing and executing contracts in itself slows down processes and allows for more thoughtful decision making, diligence & vetting.

Again, be prepared to call A LOT. 

But be prepared to show everything.

He figured out instead of owning the fast food building, own the land underneath and land contract to franchisees. 

As I was preparing to structure my offer, I got a call from the property manager informing me that the owner had traded this property to a friend for an RV and an ATV!

The drawings can go back and forth but the rater needs to be local to the property because in the end he will have to go verify what came out of the build and prepare a reconciliation showing the actual performance numbers post construction. 

With the increased competition among sellers, it’s crucial to prepare a listing to stand out among the rest and work to address potential buyer objections prior to going on market.

I'm still green around the ears but am preparing for my first rental property purchase this year.

  #4 requires literally a lifetime of practice and intense preparation.