@Michael Smythe - Agreed it is all basic stuff to you and I in the field of PM.

Nicholas,The one piece of advice I would give is refinance the Condo before you start renting it out. 

An analysis of the data also shows that the city north of Austin grew 10.6% year-over-year, making it the fastest-growing city of at least 50,000 people.

The hurricane exacerbated the already long permitting timelines but the city was working on hiring more inspectors and others in the building department to keep up with the building boom we've seen over the last several years. 

Without population growth, your rental income will lag behind inflation, requiring you to find additional sources of income.How long your rental income lasts depends on the job growth in the investment city.Non-government jobs are inherently temporary.

We don't specifically ask for them to "close" but we do ask for them to lock the door behind them. 

Welcome to the world of real estate investing, and congratulations on taking the first steps toward learning about this exciting space!

You might also meet title agents who have resources on, say, foreclosures or probates…and might recommend lenders who actually lend on more difficult projects (as the title companies also know which lenders can close and which are difficult).I also go visit open houses to see what sorts of finish to put on my renovations or to look for the next house or area in which to purchase.  

What are the biggest challenges people have faced with this.

The answer?