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.

I made this mistake recently because I keep my credit locked but forgot to unlock and was shocked when I got a denial... turns out it was my own doing, I temporarily unlocked and they fixed it3.

This really depends on the real estate investor, how much time they have, if they’re financially savvy, and if they can figure it out on their own without making mistakes that will cost you $$$ in the long run.Yes, expenses on the Duplex expenses need to be prorated between the side you occupy and the side you rent out.

@Terrance Coleman Welcome aboard...lets of great resources or others mistakes to learn from here!

I remember one guy in the S.F.Bay area that found a site for a new Pepsi plant when Pepsi was unable to find one and made a very large finders fee, his mistake he got involved in the deal to far instead of stopping at the introduction phase and the Pepsi lawyers used that to not pay his finders fee, but only waiting until it was almost time to pay him and the deal was basically done.

There's NO way this was an innocent mistake, especially if he knew the other guy quoted $9,000, and you didn’t go for it.

First, you are making a mistake keeping the tenant who violated your no-pet policy and hasn't paid their share of the rent ($50 a month).

With the mistakes that have already occurred, you are already costing yourself more than $500.00.Once the property is vacant and repaired, I would hire a local Property Manager to oversee it.

List all the mistakes you made, from screening to accepting late rents. 

They were clueless about what we're looking for in a contracting vendor.Don't make the same mistake:)