To avoid pitfalls, research liens, check property conditions, and set a max bid before buying.

Can you sell the car and buy a junker for a year or so? 

Probably buy during hurricane season (now) to get the best deal. 

Generally buying in nicer areas leads to better experiences and confidence in your investing, but lower cash flow when you move out.

Buy a quality couch from a US manufacturer and their fabrics are usually excellent.

You can offer to buy the upstairs residents an area rug, but I wouldn't force it on them.   

@Christopher HeidrichRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

I’m a prior realtor, with wholesaler experience and have done some buy and holds in residential properties.

I don't have a lot of capital to buy a property right now in the area that I would like.People that get into businesses like these have a common thread, they are go getters and hustlers! 

Buying My First RentalI was 24, being mentored by Dave for two years and I was ready to jump into real estate investing for myself.