I have a lot of respect for people who do it, specifically because I know all of the pitfalls.

So someone gets hurt, that's an insurance issue or question, you might want to make sure he's bonded and insured as an example, or you're going to take the risk, hoping that your insurance will cover it, which there are all kinds of pitfalls with that are things you need to be aware of.

I’m in the middle of it, but thought some of it may help you avoid the pitfalls that I may have made or may be making.Phase 1 - Collecting the DataFor my first marketing effort, I wanted to target multiple families and/or apartments in a small suburban market in NY.

She got her first deal under contract within a week and I walked her through some protocol and how to watch for certain pitfalls. 

Are you saying you are you frustrated because we do not concentrate on all the pitfalls?

This is one of the pitfalls of having rental properties in an S Corporation that investors are often unaware of.Also, keep in mind that if Tracy’s S Corp had other owners besides herself, then the other shareholders would not have been very happy with her when she transferred that property, as they would have also been required pay tax on that gain in proportion to their share of the S Corporation.

If I have title insurance confirmed on a quit claim deed, are there another pitfalls I need to worry about?

Either option you chose you will need more understanding so you avoid the pitfalls that can come with either.

-Is there any pitfalls or problems I would run into?

And that’s a very subjective and personal journey, but one that would greatly benefit from the experience and advice of others to avoid roadblocks and pitfalls.