Some of the best skills I've learned are basic real estate math and finance —being able to analyze potential deals to see if they are feasible and can generate good profit or cash flow. 

For tenants to continue paying comparable rent, new companies must move into the city and create replacement jobs with similar wages and skill requirements.

Accept that the successful RE investors have a well developed skill set that is not immediately acquired.

Partner 1 brings in deals and manages the business Partner 2 brings repair and renovation skills Partner 3 lives out of the area and brings capital What is a fair way to structure/put a value on the partners finding the deals and managing the business.

Also some people have no comprehension of the work and skill involved in executing a good value add and the compensation I expect for executing one.Be cautious in dealing with family.  

Do you have the skills to do the work yourself, or would you have to hire someone?

A degree is something not only to fall back on, but also gives you skills.

With that being said, most of the people in my immediate network who are in the construction business say the most valuable skill is just being able to run a team and a job efficiently and if they could start over they would go the GC route.

The CRASH is for sure coming....Here's how to protect yourself:1) Only buy good deals below current market value2) Prudently escrow the money it takes to get them into service (in service = making money)3) Don't over-extend on the amount of projects you can do at one time (project = time between purchase and "in service")4) Continually build your skills in getting deals (sales/networking/marketing), building a better depth chart of vendors, project management, and writing strategic scopes of work for the properties you buy. 5) Put money aside after every successful project.

Even though I have a business degree from a prestigious NYC University my skill set from owning my own business for 25 years did not transfer into my eventual W-2 job or the job market itself.