Probably the most common mistakes made in the development business by non builder property owners.

When buying the house, we made the mistake of getting an inspector recommended by our realtor who seemed credible and detail-oriented but I think just wanted to get us into the house.

The population is almost half of what it used to be 2010, property values are going down, median home prices -1.5%,..You are making the classic nooby mistake looking at cashflow as your #1 criteria.

On top of that, I traded a 4% interest rate for a 6.5% rate, which has made me cautious about scaling further and repeating the same mistake.

Big mistake.

They might be able to tell you why and help you move it up the search results for a while to help.I agree that lowering the pricing could be a mistake.

Biggest mistake I see is going to vacation and then half of the 45 day ID period days are gone or an investor looking for a (deal of the century and not being realistic).

Or, the trust (with trustee other than yourself) owns the property with LLC as beneficiary.Costs: LLC registration, annual secretary of state fees, agent for service fees, bookkeeping fees, tax prep fees, attorney fees to unravel structure mistakes, others I can't think of.Also, there are challenges getting title insurance, property insurance and loans for a trust.This is a way to get your name out of public record, no comment on whether it's good or bad. 

If they don't know where they are going, no matter what else you talk about, you aren't buying that house unless you can solve the problem of where they are going.The most colossal mistake in all off-market acquisition is that people use the same dumb scripts for all sellers and they almost always talk about a cash offer.

Keep it straightforward at first, but know that experience is the best teacher—mistakes are part of the process and will help you learn.For ARV (After Repair Value), start by running comps (comparable sales) on recently sold properties in the area that are similar in size, style, and condition to your planned rehab.