I look forward to learning as I go, but I'd also love to hear your advice and common mistakes to avoid.

Its a big mistake that many owners make, not allowing pets.

I'm still making mistakes and learning but if you have any questions I will try my best to answer them.Kim

So, real estate agents may do it part-time, but rarely do they do it well.Recommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.Check out NARPM.com, BP’s Property Manager Finder (BiggerPockets: The Real Estate Investing Social Network), etc.Also, encourage you to learn from the mistakes of others - by reading posts here on BiggerPockets about owners not having their expectations met by their current Property Management Company.

What's your biggest real estate mistake?

I did reach out to an agent using the BP tool and have been in contact with them, so fingers crossed.The first agent I started working with about a year ago was a friend of a friend (maybe that was the first mistake).

Would a court allow you to collect twice- make a windfall profit on this mistake in renter judgment?

:) I started with Lodgify, what a mistake!

This is one of the biggest mistakes investors nationwide make. 

I have liquid funds ready, but I want to make sure this is worth my time compared to the 5-6% cap rates I've seen on multifamily units in South Florida, which are close to what I already get from CDs and high-yield savings accounts without the hassle of property management.I'm also hesitant to invest out of state since I'm new to real estate and don’t want to make a costly mistake.