I think one of the common misconceptions of commercial/multi-family is that the loan underwriting process is similar to residential.

The need for this is great and glaring just from some of the misconceptions from the comments above.

I think there can be a misconception that rental properties are only in bad areas.  

That being said, although vacancy may be unavoidable, that doesn't mean low vacancy means you are doing something wrong.One misconception is that "market price" is a hard number.

I believe this is a huge common misconception.

There is a great misconception out there about Realtor's thinking that any buyer/investor belongs to them.

Its a misconception that CA is anti-gun.

I have found that those who do not will never be corrected in their misconceptions, so everyone feel free to correct me when I am wrong, Which wont be very often :oops: I hope!!!!!!!

See the last part of this blog. http://www.biggerpockets.com/forums/12-starting-out/topics/32866-stupid-socal-misconceptions

Misconception probably brought about by guru thinking, no one adds value to a property simply by devising the transaction, that is evidence that wholesalers lack the basic understandings need to deal in RE.Wholesaling is fine, in certain instances, not all, when done properly.