I figure if we do good at that, then we can be forgiven if we make mistakes down the road and mistakes will happen, that is simply the nature of a business.

Seemed like a good rule-of-thumb, although naturally the variances in capex, maintenance, and other things would impact the final decision.

It seems like the natural progression of most things once you master something, you then become the teacher. 

No idea what your laws are, but around here it requires a certified cleanup and a certification the property is clean.

I completely agree that cash flow is heavily scrutinized, espeically here on BP...but in my opinion, that's because the majority of newer investors need to build their cash flow to leave their current jobs.So while it makes sense to invest for the long term to build generation wealth the short term for the average newer investor on BiggerPockets is going to naturally focus on cash flow in hopes of covering their W-2 income.  

RodriguesThere is some language from Fannie Mae in the following passage of D1-4.1-02a limited liability company (LLC), provided thatthe mortgage loan was purchased or securitized by Fannie Mae on or after June 1, 2016, andthe LLC is controlled by the original borrower or the original borrower owns a majority interest in the LLC, and if the transfer results in a permitted change of occupancy type to an investment property, such change does not violate the security instrument (for example, the 12 month occupancy requirement for a principal residence).The servicer must notify the borrower that a property transferred to an LLC must be transferred back to a natural person prior to any subsequent refinance application in order to meet Fannie Mae’s Selling Guide underwriting requirements.https://servicing-guide.fannie...It doesn't seem like you can close in an LLC, but you can possibly transfer it over immediately after the close.

One of the challenges of real estate is it's extremely local nature. 

Just my nature... 

Same thing goes for people who are extremely lazy by nature, and are not willing to endure any effort or sacrifice to maximize their product's potential.Conversely, big ego people, ones that think they, and everything they touch, is gold, often set rates far higher than they can reasonably get - and then raise hell about the tenant pool, other landlords, tax cuts, and everything else under the sun when the unit sits there vacant, forever.

I'm a problem solver by nature, so I'm sure I'll face many obstacles and make mistakes, but that will make me a better, smarter investor.