Read all the highly recommended  books, bought the Carlton Sheets, attended a rich dad seminar (surprisingly no Kiyosaki), a couple of flavor of the year gurus, joined a local REIA for two years, Listened to podcast on BP.

Fast forward 5 years, and let's assume what a lot of folks are thinking might happen proves to be correct: there's been some inflation, lending rates are up, and despite my best efforts, I bought in a market that was hit by some sort of unexpected economic drop, so vacancy rates are up, rents are flat (or down) and Cap rates have gone up significantly in the area. 

All 4 are rented currently at surprisingly high rates considering the condition of the property.

Not surprising the landlord is going to say you are on the hook indefinitely doesn't mean it is true.

I was surprised at how developed it was now and how many big Apartment complexes had been built.

If you have an unexpected appraisal shortfall, that'll change things.

I don't know why it is surprising me so much that government has found another way to get more income, but it just hit me wrong.  

Familiarize yourself with prices of everything so there are no surprises when a contractor tells you it's going to be $2,000 to replace a water heater (no thank you!) 

I have learned that insurance companies really don't like this setup and I have been charged like $1,500 bucks a year in insurance for each property which is a lot considering I purchased the properties for $50K and $80K, but they way that they are acting I wouldn't be surprised if they end up not wanting to insure them at all. 

And you don’t want to be the cash buyer with an unexpected 50k lien bill.