Just because the numbers seem like they are good a high crime or drug infested neighborhood could ruin you. 

I second the opinion of those who said to watch out for vacancies because they can ruin the most elaborate business plan in short order.

I'd love any further advice that you could offer to help me avoid financial ruin on my first deal.

Yeah thanks a lot I've changed a lot about myself, my credit score was ruined by my young dumber self but i have corrected it and trying to move forward and never backwards lol thanks again 

I was in the process of negotiating a portfolio in Indianapolis and when I asked lender for preapproval letter he mentioned I can only finance a max of 4 homes which ruined those plans for me.

I would run the numbers with a higher vacancy rate... something like 10-12%.It doesn't ruin the deal, you just have to make sure that your math is figured reasonably in your analysis.Also, I usually figure net income (if I don't have real figures) at 45% of gross rents when working with apartment buildings because you will likely be responsible for common area and ground maintenance which is an extra cost.

If you make a mistake and hire a bad Property Manager, it can ruin you for life.

Carpet ruined by pets, smelled like smoke, cupboard doors broken off, blinds destroyed; in a word - thrashed.

If you ruin your financial future because you were irresponsible and did not do research, that's not the banks fault.

I have wet ruined carpet, drywall and a few other things to contend with.