Make sure to account for property taxes, insurance, and any HOA fees, as those can vary significantly in different markets and impact your cash flow.

Utter blasphemy, only "unsophisticated" investors buy in cash.An experienced investor once told me "why use my cash, when I could just default on OPM" I know its not popular thought on BP.. and of course ramp up requires it unless you inherit a ton of dough but as we age out I sure like free and clear and no debt.. just the hassle factor of having to make payments :)

You can also expect increasing HOA fees, and there may be some problems renting a property inside a difficult.You don't have any experience, prices are at an all-time high, and rates are also high. 

Be prepared for a high rate/high fees 

Or even just use the FB group where people bring deals for a finders fee, you evaluate and then pay a % to a TC to help close the deal.

It is very time consuming to get permit approvals and you may be in a position where you need to extend, pay fees, etc.. when your loan is past due.   

He showed me what I needed to do step by step, of course this came with a fee.  

Speed of building a portfolio (Cash-on-Cash return is a factor here)?

A common misconception is that real estate properties under $1M have a smaller tax basis and therefore do not benefit from a cost segregation study due to the associated fees.

I would consider the tenant's past, as well as the condition of the unit, my local market, and other factors.