I see landlords lose thousands, even tens of thousands, making rookie mistakes that they could have avoided with a little education up front.Once the first property is under contract, start again for the second.

These kinds of situations are the worst. 

But to be fair, I have spent a great amount of time very recently trying to help another professional 20 years in experience ahead of me bail out of a mistake I NEVER would have made.

Bad legal stuff happens to the guy who sold on a "wrap" and makes a mistake. 

My mistake. 

My mistake! 

Start small and Make Your Big Mistakes Early.  

Here is what I learned, my mistakes, and what I regret house hacking starting at 22: https://www.biggerpockets.com/forums/922/topics/1133476-hous...

Verifying last 2 years of rental history and income extremely important to find the “best of the worst”.Make sure you understand the Class of properties you are looking at and the corresponding results to expect.The City of Detroit has 183 Neighborhoods we’ve analyzed.PM us if you’d like to discuss this logical approach in greater detail!

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