Once you do decide to procure your first rental, definitely lean on the BiggerPockets community as a resource; I'll also say that it could be worth considering a shot at a software solution built for DIY landlords (1 - 15 units) to bring some automation to the rental management process (just to make things much much easier for you)!

Originally posted by @Amy Wan:I'll add one:--Not properly structuring the deal (and disclosing all the ins and outs of the structure)--Bringing in bad business partners/co-sponsors or bad investorsback in the 80s I did site procurement for a large syndicator.. and when you talk about bad investors.. this is very true they had some issues with tax reform and then the market cooling in 1989.. one investor basically went bonkers and long of the short of it.. between him and his attorney torpedo'd numerous projects that could have been saved.. 

Once a tenant is procured, the agent wants a pound of flesh every time a lease is renewed. 5% of the annual rent was one agent's fee.

It really is a matter of procurement cost, same money, you want SFH.

Can you see any strategic advantage for procuring dirt quickly absent extra time in the contract?

If the property doesn't recieve any offers in the first few weeks, it is usually reduced every couple of weeks until a contract is procured.

It gives them incentive to procure a buyer themselves.

She was able to procure some space earlier this year and it works well.Thank you, all, for the replies

You may consider procuring a line of credit to use for margin calls as well.

What happens when market rates to procure new deposits inch upward and you have long-term money written on notes without balloons or short adjustments?