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

Start small and Make Your Big Mistakes Early. 

But because an HOA made the mistake and the county operated a crooked auction the purchase will just get back what they bid, $6600.  

We recently looked at a property outside our agents area (2 states away) and found a fee that was added which we questioned and were told it was a mistake and was removed . . . not sure if it was a mistake but be sure to read these new contracts BEFORE signing as things have changed since August.

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

We had a client that bought in Port huron and then ended up selling their property because they went through 3 PMCs and gave up trying to find a great one:(Some copy and paste advice below:--------------------------------------------------------------------------------------------------------Recommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.Check out NARPM.com, BP’s Property Manager Finder (BiggerPockets: The Real Estate Investing Social Network), etc.Also, encourage you to learn from the mistakes of others - by reading posts here on BiggerPockets about owners not having their expectations met by their current Property Management Company.

And someone jumping into this as a complete newbie can expect that they have a decent chance of making some expensive newbie mistakes.

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.DM us if you’d like to discuss this logical approach in greater detail!

The worst part is somehow these big names companies are above the regulation (Well, I guess the regulation was there at the beginning because these companies lobbied the hack out the government) and they can run STR where other hosts can't run. 

Questions my fiance and I have are:- Property/neighborhood selection (worst unit in the best neighborhood?