I understand that investing requires some level of risk, but I've heard horror stories, and I REALLY don't want to make any stupid mistakes that will send me to the poor house.Because I don't yet have any experience, I'm wondering if I should invest in some kind of training program?

Obviously, this can impact your overall cash flow. 6) it’s important to find an agent that knows the area well and understands how to work with an investor, as the process is very different than buying a primary residence. these are all things to consider, and there is going to be a learning curve associated with the process.

Once you can get over the immediate gratification of investing, and understand delayed gratification.

Keep in mind most of the tenants would be immigrants who may or may not speak English.Honestly, these seem like a total headache and I can understand why these sellers want to sell.

Also, I was reviewing the BP tutorial for new members, to better understand how to navigate the forums and the site but the info is different and seems outdated.  

Verifying last 2 years of rental history and income extremely important to find the “best of the worst”.Make sure you understand the Class of properties you are looking at and the corresponding results to expect.We've also classified Metro Detroit Cities & Detroit Neighborhoods, PM us for more info.What else can we assist you with?

If you have a cat that pees or sprays, understand that even if LVP is waterproof, it can seep through where planks connect or edges/trim to reach to the subfloor or slab, causing major odor issues. 

It is crucial to thoroughly understand the specific market in which you are investing.

Understanding the local market there, like rental rates and property trends, is crucial but hard to do from far away.Finding a reliable property manager is vital for tasks like tenant screening and repairs.

Not only will it help you understand the industry better, but you'll be able to analyze the market/deals yourself.There are plenty of online resources to help you accomplish this within a few months, and I'm sure it will open a lot of doors for you down the line.