Others have mentioned about ensuring your numbers 'work' when you analyze deals but that presumes that you're already familiar with the formulas referred to.

And, of course, one of the first things we did was ensure we have access to a good tax accountant and business attorney!

With The 10X Rule, you'll learn to establish the amount of effort needed to guarantee success and ensure that you can continue operating at this level throughout your life.

You must take risks, but, ensure that they are calculated risks.Below are some links to get you started. http://www.biggerpockets.com/startherehttp://www.biggerpockets.com/meethttps://www.biggerpockets.com/alertsHow to Use @Mentions on BiggerPocketshttps://www.biggerpockets.com/rules https://www.biggerpockets.com/termshttps://www.biggerpockets.com/inviteshttps://www.biggerpockets.com/perkshttps://www.biggerpockets.com/forums/categorieshttps://www.biggerpockets.com/courses/a-beginners-introduction-to-real-estate-investing (video courses)https://www.biggerpockets.com/real-estate-investing (Ultimate beginner's guide to REI)REI books suggested by BPershttps://www.biggerpockets.com/renewsblog/2015/11/13/7-real-estate-books-beginner-investors/ (7 absolute must read books for beginner REIs)http://www.biggerpockets.com/renewsblog/2013/04/14/best-real-estate-books/?

There are all kinds of reasons a person may want to sell quickly and the MLS exposure will ensure at least a chance of receiving market value...adjusted for quick sale whether listed low or at market with "make an offer" or however realtors signal that a quick sale is needed.  

Ensure you recruit great tenants because they are your neighbors.

What steps should I take to ensure I acquire a profitable property? 

Thereafter, we will ensure that claims are made in for any past due rent.

I like a good r-value and ensure they are capped and proper insulation done around them.

I would also ensure the Mortgage and Note provide you with the option to pursue deficiency judgement against any borrower who defaults.