This was my first property, and while it's been a great learning experience, I made several mistakes along the way—ranging from choosing a realtor who was more focused on closing the deal than finding the right house to having a poor inspection and overlooking issues hidden beneath the surface (literally).

Never buy without personally inspecting and approving the property and INDEPENDENTLY, INDEPENDENTLY, INDEPENDENTLY, verifying everything from values to market rates, to approving tenant selection procedures and standards, to repairmen on standby, to everything else in Christendom that you can thing of.I am not a fan of out-of-state investing, especially for those with less than 50 years of experience, and for them, they’re probably too old for the hassle. 

You've got to remember the home has already been through numerous inspections prior to delivery, so the time it takes to finish is minimal.  

I recommend a full inspection before occupancy, at least one per year, and a full inspection after they move out.

Sometimes, I aim for closer to 75-80% if the deal has solid upside or lower rehab risk.

I am a plumber in the Atlanta area if you need any advice on home inspections and what to look and lookout for when buying an investment property!

Those rentals debt serviced and also covered my California monthly rent (I know some of you may question paying someone else's mortgage) but at that time, I preferred the renting lifestyle which placed me much closer to work, my family, my clients, and friends.

Some charge for annual inspections outside of renewal times, and it's $50-$60 but it's truly a full inspection.

We made an offer (which was accepted) and ordered a home inspection.

A property inspection or review of recent upgrades/repairs is crucial.Private Lender Terms: What terms is the private lender offering (interest rate, duration, fees)?