"If, hypothetically I can earn, for sure, from my mutual funds or other means a rate of return 12%"... and other famous fairy tales!

I thought the old aphorism about bankers giving loans only to those who don't need them was a wive's tale until I saw it in action... as a young person trying to get a house without full time work like you I had no luck and could have used the loan and never missed a payment, versus a situation where they want to give me more loans (than I want) today....My best tip... not all financing is through conventional means...

Whether they are in Virginia, California, New York, Florida, or anywhere in between, I would love to hear some tales of the nonstandard things you all are aware of in vetting your deals.

The theory is an old wives tale perpetuated by mom and pop hobby landlords.

Allison.Here is where you should be marketing: all fsbo websites, craigslist, Facebook, instagram, twitter, bigger pockets marketplace. 

Better to nip this in the bud and look for a more stable tenant than to get into a tale of woe and successive problems coming up with the rent.

As to the real estate market, it has been the tale of two markets.  

This is not the classic tale that most of you have heard in your life of David and Goliath.

@Jeremy Woods great story and a great cautionary/encouraging tale for new investors!

You just move on.There is a wonderful crazy tale on Bp somewhere where a guy offered something like half what the woman wanted, and she balled him out on the phone. 2 weeks later she phoned him back up, and had obviously realized that her property wasn't worth as much, they negotiated, and he bought.