You must know what the hell you are doing and if you dont, its critical that you solicit information from people who do.

Having a knowledgeable agent help you analyze the deal is a critical step.Step 3: Have the agent write the offer for you based on the analysis that you have done together.

Obviously, having a preapproval letter is critical. 

Fortunately, our software provider continues to improve their product and allow owners to select alerts they want and don't want.Next, we've asked our software provider to add a feature that would allow our owner clients to select from: Immediate Alerts, Daily Alert Summary, Weekly Summary, Monthly Summary.Of course, we call owners when there's a critical issue.

I know you are very critical but I take your comments.

If you're a single mom with student loans, a car payment, and living paycheck-to-paycheck, then $20,000 would be devastating and a reserve is critical.

I have cleaned up a number of these deals over the years.. they are all great when they are working and everyone is on the same page but when they are not.. there is extreme risk to the original seller especially in Texas were a bank or lender can get a money judgement on purchase money loan.. out west not so critical original seller just gets their credit trashed if it was not already.. but there is no money judgement available to the lender for a purchase money owner occ loan in first position.

How you operate the asset is critical. 

One of my most critical decisions is to get the RIGHT tenant the first time.

Regulation and permit or license-ability will be critical.