Some items to touch on while you talk to prior investors:- How has the overall experience been while you have been an investor?

This one is going to vape/smoke/burn candles in your unit/property anyway.This is why you send a copy of the application and tenant criteria prior to doing background searches, let alone signing lease agreements.

Hello All,I'm working on closing my first rental property and everything was going according to plan until the termite inspection revealed prior damage and higher than normal wood moisture content in the crawlspace.

But again - education is the key PRIOR to starting to implement any strategy.

Hi Michael,Without knowing much about your current script/approach it's tough to give any insight on how to adjust; however, in my experience, which resulted in my first deal (2-family in Quincy, Massachusetts) the conversation had flow because the seller and I were able to connect on a personal level prior to any negotiations regarding the property. 

I live quite modestly relative to my income and I'm young enough that I'm fine jumping into a job again if I need to, so I've got a pretty high risk tolerance (so long as it has comparable reward potential, of course).I've been planning on just making money off the investment income, but I've always been rather interested in real estate investing and it occurred to me recently that I will probably have an easier time getting a mortgage now with my income than I will in a couple months when I don't have an active income.

@Sam Josh You can cash out for any purpose but did you compare HELOC on PR and cash out on rental property interest rate.

I’ve not had a chance to research the percentage of households that were renting at the end of the recession as compared to before to see if there might be a potential benefit to having rental property in a period of time when people are not buying homes.Good luck with the first property!!

If you still are still undecided after considering those factors, I would compare both markets.

Due diligence and hiring an attorney prior to the deal instead of after the deal is preferable but not infallible.