Don't be surprised if the issues aren't what she says they are.  

You would be surprised how many people have extra cash and would like to invest in real estate and simply don't know how to get started.

I know the 1st deal is always the hardest and most scary, but once you have gone through a couple it becomes routine and in my experience you just hope nothing un-expected pops up - like mortgages, liens, judgements, etc - which seems to happen A LOT.  

@Jon Klaus I have to say I disagree with you on this one and I'm surprised since you are one of two people I try to read all of their posts, because I learn so much.  

If the account is only delinquent 5 months, not having a foreclosure started is not all that surprising.  

The only thing, that is surprising is the numbers you're throwing around.

Not surprisingly, housing costs constitute a significant part of the cost burden. 2.

Always be prepared for the unexpected!

And with rental properties, I think one of the main considerations is controlling your costs so you're not running around trying to make ends meet later on when surprises pop up.If you're only going to have the rental property for 5 or so years before selling and moving on to bigger and better things, it might be a different situation. 

I can't say I'm surprised that California is so terrible, but wow, look at Florida!