I would be prepared to file for eviction etc. if they are 1 day late on payment, but would not actively be working to get them out if there is not a blatant current violation of the lease agreement. 

This is way more conservative than a lot of people I talk to and has definitely meant that I lost out on opportunities, but it gives me bigger peace of mind and in shifting markets I feel better prepared to adapt if need be. 

Before I jump into the cash required to operate which isn't given enough attention by most investors there are additional fee related questions a borrower should ask any prospective lender: Are the 3 points inclusive of loan doc prep? Are

Its not only important to know what the current regulations are but to also prepare for potential changes to those regulations that may coming down the pipeline.

So better be prepared for another year at least with negative cashflow.

If we are purchasing properties when the market is a highly appreciated seller’s market, we need to realize we may be in DUMB DEBT and should be prepared for the risk of suffering the consequences if and when the economy turns for the worst and goes into a recession as this will likely cause values to drop.

Be prepared to navigate through potential tenant issues and lease terms. 

Learn the ins and outs of fit and finish, proper preparation, proper installation, rough in locations & MEP details... thinking 10 steps ahead on everything.

Here are two quick points to add:Be prepared to walk away.

@Tina Artigliere@Alicia ProkosFor these Quest Solo 401k plan account holders, what is essential is to find a new Solo 401k plan provider who offers a Solo 401k plan with the service and features that the account holder needs such as Solo 401k loans, alternative investments, Roth and Mega Backdoor Roth Solo 401k contributions, 5500-EZ & 1099-R preparation and filing, etc.The process entails restating the Quest Solo 401k plan where the Quest Solo 401k plan documents are replaced with the Solo 401k plan documents of the new Solo 401k provider.