It's complicated for the teacher, not the student!

Hello everyone,I believe that experience is the best teacher, and since I don't have much yet in this industry I'm looking for responses from those that do.I understand the best way to generate leads and put a house under contact is to find a "motivated seller", but what if your lead turned out to be a foreclosure.

Now take what you learned and apply it to the next deal.Real world expetience is your best teacher. 

The podcast and lots of books have been my teachers and I'm working to complete a buy and hold business and operations plan by year end.In the near term my goal is to acquire a property using this model by spring 2016.

So we ended up buying a few of the family’s properties and hired C to continue to manage them all.C was a teacher who wanted to do real estate full time, since we could not replace his teaching salary with PM fees at this point we agreed that we would try to ramp up during the school year so that by the following spring we could afford to replace his salary.

I'm a lawyer-turned-law teacher who has always had a passion for real estate & Bigger Pockets is piquing that interest more!

I really do appreciate your advice and I'm learning that, like anything, experience is the absolute best teacher.

Ok, so the mistakes are adding up , which is cool no better teacher then experience , I didn't put in my purchase contract that that I needed a written statement from the tenant say they wanted to move , so their lease is up on the 29th so what actions does a new landlord need to take to say " I can't renew lease and your gonna need to be out as soon as it does , please help me from doing this wrong 

I am teacher in NJ who has an average middle class salary (60K).

My wife and I are both teachers, and she is having a new baby.