What would you say the biggest issue has been?

I work extensively funding deals for flippers in KC  Toledo  Cleveland Baltimore city and a few other markets in mid west..

Some people seem to get locked in to one place they find, or a place a friend or family member is selling without really evaluating the available market.In a small town in East Texas I would think your biggest risk is a big player coming to town that can absolutely crush a smaller player. 

I understand why carriers associate Condo/PUD construction with greater liability risk (I am sure being based in Philadelphia, a jury friendly city doesn't help either) but curious which carriers others are finding to price coverage without this exclusion and also price the coverage competitively.This also serves as a reminder to review the coverage when you hire a GC for more substantial or unique construction assignments. 

I live in the Milwaukee area and want to get started investing locally but eventually want to branch out into other cities and states.

It's a lot of work upfront but once the team and systems are established it gets easier and as you get better you can expand to another city. 

Quote from @Joseph Sakic: I am a young investor (23) and currently have 4 single family residential rental properties around the Kansas City area.

Mexico is already building tent cities to house them.

My biggest suggestion is to thoroughly vet property management companies here—they can make or break your investment in some cases.Regarding your questions about financing properties, I’d recommend reaching out to @Ko Kashiwagi.

For those who have invested in both, what were your biggest lessons learned?