Right from the start when you say the tenants pay a commission the perception is you then are deceiving them and taking advantage right out of the gate.

@Brian LauDoing a larger commercial project as your first deal out of the gate is ambitious.

Some other good eats: Philly Time (in briarcliff shopping center)http://places.singleplatform.com/philly-time-2/men...Long boards http://longboardswrapsandbowls.com/Gates BBQhttps://gatesbbq.com/Buca di beppo http://www.bucadibeppo.com/Blue Linehttp://thebluelinekc.com/Are you looking to acquire TK small multi family or single family? 

Keep an eye on Zillow, I have seen some really great deals like a gutted 4/2 (townhouse) right outside of the Kbay gate for 265K and was ready for renovation.

Might want to investigate that with insurance provider and also make sure all fences and gates surrounding it are to code with the proper gate locks.

Therefore, when you use that pedigree firm as a client, you get the benefit of using the same agreements that the guys 10x your size are using, but you are also paying the same price as them, maybe more, so its probably not something you want to do right out of the gate.

Can we put new locks on Gates come Oct 1 and force them to sign a short term lease and pay arrears and upfront?

I can assure you not all 1 million  are doing deals or have ever bought a rental.. they pop on get excited realize that this is just another JOB although a 1099 instead of w 2.. and some like it and flourish others well not so much.. much harder than it looks.I just spent the week and will go back today in what many on BP would classify as a guru event.. ( invited guest speaker) and this is a very niche product.. and so that extent the audience from what I could see is pretty advanced.. most successful business owners looking to pivot and we were talking about deals starting at 2 million basically and up to 10 to 20 million.. but there were also a few that are starting at the bottom and paid to be there and i think while not cheap and most on BP would gasp.. but if they pull it off they will have far more success than most trying to buy a 200 a month cash flow rental.. their starter projects are going to make them 30 to 60k a year net first one out of the gate.. but question can they get there ??? 

So I ask - what are some of the mistakes that you all made out of the gate in real estate investment that helped educate you quickly, and knowing what you know now what may have prevented it?

If you're just starting out would you worry about this as I want to come out the gate cutting as much cost as possible.