Simple mistakes can be very costly.  

It has yet to happen for an RE related event but my last threat of being sued was last month (and unlike most suing threats, we had made some minor mistakes on this one).

You can hear real-world examples of how others have built their investment portfolio and (hopefully) learn to avoid their mistakes.4.

Agents are also advising you to look for expensive mistakes (like checking the sewer which could cost 5-40k) and using their network and contacts to find homes off market or FSBO.  

My mistake! 

We had a client that bought in Port huron and then ended up selling their property because they went through 3 PMCs and gave up trying to find a great one:(Some copy and paste advice below:--------------------------------------------------------------------------------------------------------Recommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.Check out NARPM.com, BP’s Property Manager Finder (BiggerPockets: The Real Estate Investing Social Network), etc.Also, encourage you to learn from the mistakes of others - by reading posts here on BiggerPockets about owners not having their expectations met by their current Property Management Company.

I see landlords lose thousands, even tens of thousands, making rookie mistakes that they could have avoided with a little education up front.Once the first property is under contract, start again for the second.

My mistake. 

I often make the mistake of thinking the grass looks greener on the other side of the fence when going through the forums.

You can hear real-world examples of how others have built their investment portfolio and (hopefully) learn to avoid their mistakes.4.