Well, not so fast.For every successful flip, there is an account of some nightmare project that sucked the bank account of someone dry.

While I understand market trends, negotiations, and deal structuring, I know that becoming a successful investor requires a different mindset and skill set.I’m here to learn from those who have been in the trenches—whether it’s flipping, BRRRR, multifamily, or long-term rentals.

From my observations of successful investors (those with 100+ units and 20+ years in the game), there seem to be two camps: those who are pro-partnership and those who avoid them.

If you're using a realtor, they should have insight on the successful property managers.

I understand that not every project will be a success, and I am okay with that.However, when it comes to financial wins, which option do you think offers a better financial outcome?

So I had a solid enough down payment that I thought, why not go out of state where it's cheaper, where I have friends who've been successful and can get more bang for my buck?

Using percentages as a guide to success tells you nothing of value. 

Most PM software allows late fees to be charged.Ours allows us to absorb the cost of tenants paying electronically thru the software - it usually wants to charge tenants, but we want them to pay electronically.We manually charge tenants a Processing Fee for mailing in their rent, a slightly lower Processing Fee for depositing to our bank.Your success will depend on the Class of your tenants.

In Michigan, the ultimate garnishment is state tax refunds (federal cannot be garnished).Not seeing how you are going to successfully do this on your own - remotely:(

They are very different.Probate and succession vary by state, so contact a probate attorney in the state the property is in for further details.