If you're going to work with contractors, collect rent from tenants, or try to bed the hot chick at the bar, you better learn to recognize warning signs and get out early. 

No one is going to come to your door stalking you, but feel free to pay a few grand a year to "hide" your identity that will be able to be found in 15 minutes or in a request from the tenant if they request ownership of the LLC or the operating agreement to understand who they are signing a lease with.

Focus on areas with strong population and job growth—that's usually a good sign of demand.

I you take out a loan your name, an actual person must sign it.

Create a "fireplace house rules" addendum and have tenant sign it.

Fewer than 20 have signed up.You can lead a horse to water...

I’ve always felt that if I find a property in an area where "I’d want to live," is usually a good sign, but I’m curious how you go about underwriting a deal.I’m in Phoenix, and I’ve been looking at the surrounding cities too.

My lender seems to have done a little mistake and my father who is co-signing was never told he has to be down here for the signing which was suppose to happen today at 1:00 and it cannot happen without a wet signature from him.

We have not disabled ours or converted to gas, but Tenant must sign a Fireplace Addendum stating if they use it, we require a higher renter's liability policy with us as additional insured, rules on wood, storage, use, safety, they pay for yearly professional cleaning each year they are there, etc.  

But after an exchange - sign the purchase documents with one pen and pick up another pen to sign the refi docs :)Another strategy you could consider is reinvesting into multiple properties, where you purchase the first property cash (ensures some security and concentrates the equity) and the second property with a mortgage.