Last August a decent pre-foreclosure opportunity came available on the MLS and my agent took us to see the home and submitted two offers below asking that were too low for the seller at the time.Apparently the seller was able to avoid foreclosure and the home delisted after it didn’t sale.

Connecting with experienced investors or joining local real estate groups can provide valuable insights and help you avoid costly mistakes.

However, I have heard and read of many horror stories of landlords working with incompetent property managers who provide no real value.In attempt to avoid this issue, I am doing my due diligence and asking investors for referrals of trustworthy property manager.

Thankfully, we caught it during the plan review stage, and with a stamped structural design, they got the kitchen of their dreams—without jeopardizing safety or facing surprise delays.Here’s what to think about when renovating:Structural Changes: Even moving a wall can have ripple effects on the stability of your home.HVAC Systems: New layouts might need adjusted airflow or ductwork.Plumbing and Electrical: Moving sinks, showers, or outlets requires careful rerouting to comply with building codes.Before starting demolition or submitting permits, have your plans reviewed by a licensed engineer or architect to avoid costly surprises.

We're exploring creative ways to provide him with the cash needed for the down payment while avoiding triggering a taxable event.One strategy we're considering is purchasing his future primary residence ourselves, making the mortgage payments, and then, once we've built enough equity—comparable to the appraised value of his rental properties—transferring the title to him as a form of exchange.What are your thoughts on this approach?

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

And @Michael Plaks is correct that setting up in GA didn't avoid the CA LLC fee. 

Conversely, you will run into people on your list that just seem to be a waste of time, so you’ll want to avoid them.

I would recommend fixing it yourself to avoid any liability from the tenant and then try to get the HOA to reimburse you.

You can avoid costly mistakes.