Then they soon find this isn't so easy and the PM is eating the little bit of cashflow and they have to come to the table every month to keep the thing going, this goes on for awhile then a unit gets torn up and they become very motivated to unload.

The more you tie up your money, especially if you have a loan the more profit you eating up.

You generally don’t want to close on an inhabited property since the eviction process in California can take forever and eat you alive.

Watch out for condo fees as they might eat all your profit up.

Vacancy, Maintenance, and property management in general can eat up profit and quickly lead to losses.

Vacancies/repairs/upgrades/evictions can eat you up fast.Keep us posted. it sounds exciting!

As the saying goes, "you can't eat equity."

The travel to the market many times eats up 5 to 10% of additional cash flow that is never projected in the returns equation...

Now I can say that I have my cake and I am eating it too.

Carry costs will eat you alive.