What are the mistakes/pitfalls I should be cautious about and keep a close eye on ?

He quit after less than 2 months because they kept telling him to work faster and the work only had to last for 30 days until the house sold.4) Crappy tenants are placed and rent rolls fudged - all to make a sale.IF you do your proper due diligence, you should catch most of these!

The first year we are getting to know the property (the inspection is not going to catch everything).  

I always see what looks like good deals to me but I know the untrained eye can sometimes see a bad deal as a good deal. 

Might have to pay a few bucks for their time but money is well spent in my eyes since they have no incentive to lie.

He doesn't bat an eye at evicting people for almost any reason. 

Love to connect off line and catch up.

The first book I actually read was Building Wealth One House at a Time by John Schaub which completely opened my eyes to REI.

What’s the catch?

In the lenders eyes, the fact that it is not your primary residence means that there is additional risk, which needs to be balanced with a higher interest rate.