For practitioners in the real estate industry, the biggest challenge is not just the difficult work, high risks, or immense pressure, but the necessity to learn to let go of complete control over outcomes.

People all of the time, "over estimate" the opportunity and "underestimate" the cost and challenges in doing a profitable flip.

When you researched markets like Austin las Vegas Miami, those markets have higher land cost and are more cyclical in nature tend to have larger price swings compared to regions with lower land costs.

By setting appropriate expectations, we can ensure a smooth and successful investment journey.When it comes to syndications, there are unique challenges in exiting or restructuring investments due to diverse investor expectations.

What I do not control is the natural level of rents in any given market at any given time. 

However, I emphasized the importance of open communication and encouraged them to reach out proactively if they foresee any challenges with future rent payments.

Lending terms will be important here.I'd say the biggest challenge thus far is making sure I feel comfortable managing this remotely, as it's located about ~150 miles east of Dallas. 

Challenges?

I think Natural Gas dryers have 110V outlets but electric only dryers are 220V w/30 Amp breakers, if I'm remembering correctly. 

Always prioritize cash flow – Even if you don’t need the income now, properties that cash flow will be much more resilient during market downturns or unexpected challenges.