I’m working toward my first deal now, and your story reminds me that success starts with stepping into the unknown.

However, the last thing you need to do is step in and play mediator. 

In addition- if it's not working and the tenant takes legal action, the judge certainly isn't going to be on your side when you tell them a flooring contractor said it was warm in the house.This game is all about mitigating your risk by being proactive.

Below are some actionable steps I plan to take after identifying a market:- find a rock star agent by referral and/or calling brokerages and asking to connect with their top producing agents- find a rock star contractor by referral and/or yelp- have control over construction by setting per diems to incentivize contractor to finish the project on time, within budget, and with good quality- leverage my rock star agent's time to check up on the construction process (checks and balances)- hire independent handymen/inspectors to check up on the construction process for a flat fee (checks and balances) There's competition everywhere, you won't escape that in any market. 

In this case I would like to see some evidence that steps have been taken about the 401k.

Quote from @Serena Lemmons: Hi All, I have been researching real estate investing for a while and feel like the next step is to meet some investors in the area that I can learn from.

Let the 5 days pass and have the next step (Sheriff?)

I've stepped in to help many clients refinance and I'm shocked at how many times the investor doesn't know even the basics of the deal they are in.

so every step is tougher.2. you don't really compare the interest rate when purchased and the interest rate when refinancing - that is apples and oranges. 

All that is required is 4 weeks advertising in the local paper then call the sale on the courthouse steps the following month's first Tuesday.