I'm closing on my first rental property in Memphis on Monday and was actually a bit surprised to find the tax rate higher than expected on it.My property is in the Midtown area and taxes are just shy of 2%.  

Rent is $2K+, and so far have gotten decent responses, but still working on finding the right renter.Someone emailed today asking if we accept Section 8, which sort of surprised me due to the price point of the house.  

Investors who do not consider these are in for a huge surprises when the big ticket repairs items hit the pocket or if you decide to move out of town and want to professionally manage the property......and poooooof......!

Some hardwood floors are surprisingly salvageable.

This surprises people who expect real estate to be a "hobby", but one closing will generally pay those bills.  

This determination has just as much to do with understanding what parks “not to buy” as it does “parks to buy”.Successful negotiation - Assuming you are good at the prior skills, you will still need to understand valuation of parks, so the end result is an acquisition of a park at a fair price that will allow you to be successful.Due diligence - Understanding what items to investigate and how to navigate the process to eliminate surprises.

Thanks for starting this thread, @Jack ForesterI was surprised myself

You'd be surprised how many people have tried renting out a condo just to find the HOA doesn't allow it. #2.

If you get a laundry list of problems on the inspection report, don't be surprised or let that alone scare you.  

(I'm surprised the banks even go for it, frankly, as it is like a seller-carry 2nd for 8% interest-only...equivalent to a "no money down" deal.