As such, before making any investments always do your homework and consult financial advisors and real estate professionals where possible.We’ve put together a list of common mistakes that first-time (and sometimes veteran!)

@Sam Abe this is a very common issue between owners and PMCs. 

Maybe you only work on Probate listings, Divorce listings (I know but unfortunately, it's a thing in CA), Seller Only agent, Buyer only agent, only working with investors (This is great because they keep coming back if you do a great job) There's so many more but becoming a specialist will allow you to hyper focus on one area of RE as a realtor and dominate that segment.2.

I don't know how to find great deals, and I have a full time job and family that limits the amount of time I have to do rehab.2.

A BRRRR (Buy, renovate, rent, refi, repeat) is NOT turnkey (already renovated and ready to rent) by common definition.  

Specifically, there's job growth (Intel, Honda, Amazon, Nationwide, etc) and the population is growing (unlike Cleveland or Cincy).

So for this person you'll want to have lots of cash reserves, perhaps a high paying self employment gig or Job to weather the storm and fund this investment till the time in which you can fulfill or execute your game plan.

In todays market.8% is more common for new jersey

I have a sophisticated W2 from a full time job (not at home).

Common sense tells me put the money in CD’s to build more and let the tenant pay off the mortgage until I can pay it cash, but a lender told me the best way would be to put the $4,000 per month straight into the principal… was that just him trying to make more off of interest from me?