_____________________________________________________________Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a Class A property in Class D area, what quality of tenant will you get?

Unless you have developed software or paid someone to do it people often do not understand the cost involved.

Is your rental C/D class where it can only attract a lower class more difficult kind of tenant to manage?

If you do refinance into a portfolio loan or DSCR loan that requires the property be held in an entity, you can often times change the property ownership at closing. 

Unfortunately we have discovered that the guests of a couple of tenants were not being upstanding citizens and got themselves in trouble with the law.  

To avoid going through the same poor experience, keep reading.Even if someone gives you a referral here, do NOT make the mistake of assuming that the PMC will meet your expectations, just because they met the expectations of the referral source.In our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.It's often a case of not doing enough research, as they don't know what they don't know!

I know that's not many yet, and I'm still new, but I'm curious what you all think is the percentage of tenant that DON'T lie. 50%?

@Sanjeev AdvaniIn our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.It's often a case of not doing enough research, as they don't know what they don't know!

However, that doesn’t mean they aren’t for sale.Buying houses off-market happens more often than you might think.

David Greene talks about this quite often on the podcast.If you want a mentor, you should develop relationships with locals and prove yourself to them.