@Nick Walters the biggest challenge you'll have in acquiring 10-12 properties is the Fannie Mae 10 mortgage limit.

Over the years it really boosts your access to credit and, ironically, your credit score as your revolving line % goes down.The biggest thing to do is always make sure you never miss a payment.

But the biggest thing is the risk.

Its a great self motivation book directly related to making yourself a success.Now... by far... the biggest most important thing...KEEP TAKING THE NEXT ACTIONABLE STEP!

More and more investors are choosing this delivery method in our markets as they typically get the biggest bang for their buck this way and virtually eliminate they need for any change orders which can get out of hand without and good well defined scope of work and complete set of construction documents.One recommendation that I can make without hesitation is to be certain that you use only DC experienced and licensed general contractors when you bid it out, as I have seen lots of developers/investors get delayed due to regulatory issues associated with stop work orders and the like because a lot of contractors don't know the process and the system in DC.

Now a value add is cheap because you are paying low to begin with making the forced appreciation worth your time.The biggest mistake I see people do though is pay a premium and say I am going to do this and this and this and then the property will be great.

Note you may want to save for a higher reserves fund.Common Utilities - Looks like your doing this already by hardening your rentals.One of my biggest bangs for the buck has been removal of all outside water bibs/faucets ;) no need to have tenants washing all their cars or watering the lawn.

One of my biggest problems has been properly locating and finding the correct information on the owner to make a solid connection.I have tried a few different ways like looking up the owner's name on the internet and whitepages.com although neither has really proven to be productive.

One if the biggest issues in DC is that source of income is a protected class, so you can not just move a section 8 tenant out in favor of a tenant that is not section 8.

In the land of no income or sales tax (New Hampshire), the property taxes are probably the biggest source of income for the state so the rates are rather high (think ~$26 per thousand assessed).