Some break-even which I also consider a failure.

However, these properties generally have a lot of land improvements that qualify as well as certain portions of electrical, mechanical and plumbing that can qualify.

New drywall, mechanicals, windows, electrical, roof, siding- essentially new from foundation up. 

I did have to replace a dishwasher early on and the stove but since then, zero appliance failures.

As I predicted failures showed up in 2-3 years. 

Jump off the cliff or Analysis Paralysis-  define failure.  

He can just put a mechanic's lien on your property and he will get paid when you sell.

The right idea is going to be the bread and butter.1) Ideal location2) Quality properties over quantity of properties3) 1.25x DSCR4) Intention to hold no less than 8, but ideally 12+ years.5) Sufficient cap reserves6) Mechanisms to enhance cash flow(via alt investing or house strategies).7) Liability protection through no PG loans(if possible), LLC formation, property management and being a diligent landlord.8) Invest deeper, before wider.Now if you're talking where to invest, different information.

One of the reasons why I’m bullish on real estate investing is because I am more afraid of the “what if I didn’t invest” rather than the “what if it goes wrong.”Yes, I could fail and lose everything I started with, but I’d still be farther along than if I never started at all.I’d have the knowledge, skills, and lessons that only come from taking action.Every misstep is a step forward when you’re learning and adapting.The real risk isn’t failure, it’s standing still and letting fear hold you back.Take action!!!

While not my main area of practice I represented a Brooklyn credit union lender, some buyers/sellers and a few landlords in real estate transactions and rent arrears cases.While we had successes and some failures along the way I ultimately concluded that I wanted to do something different with my life and cashed out of the business.