One of my greatest challenge tends to be being tactful in explaining why a brick is a terrible life-raft!  

As landlords and facility managers, you can’t solve this resource crisis, but you will be challenged to control water waste.By taking the initiative to flush less water down the toilet, you can do more for your facilities’ overall usage.

If the attorney's fees seem unreasonable (ie >$2K) then consult with your own attorney to review and challenge it.  

For the multi family properties, it tends to be a bit more challenging.

RAsset ManagementProspective Buyer shall indemnify, defend, protect and hold harmless each Owner and Agent from any claim or demand by any person or entity entitled to receive from Prospective Buyer and/or Registered Broker or for its account any brokerage commission or finder’s fee in connection with this Agreement or any possible transaction, A Private Brokerageany claim by any party (including Reviewer or any person associated with Reviewer) of any right to any brokerage commission or fee

managing people/tenants and finding good deals are in my view the most challenging.

I'm finding the biggest challenge is obtaining financing that works for us for our rehab deals.  

There are multiple considerations here beyond managing reservations and cleanings and if you only have one property I think you will find it cost prohibitive and creating other challenges. 

I'm a Newbie to real estate investing, super excited and abit anxious about the challenge of getting started(beginner nerves I guess).I'm diving in because I want to acheive financial independence for my family through passive income.

And I probably know exactly the thoughts, challenges, questions, and information overload, etc. that you might be feeling and experiencing right now.And I know the "iceberg" and the "elephant" seem very daunting right now.What helped me go from buying a duplex to buying 100+ unit deals is boiling down this business into 2 simple things, Deals and Dollars.I share more of this approach in a thread if you want to read, I quit my CPA Job to buy Large Apartment BuildingsTo summarize though, the road ahead for you will most likely have many twists and turns, challenges and setbacks.