The biggest obstacle is creating templates. 

Building your team, lenders, title companies, Realtors, insurance people is the biggest deal in this business, I believe, and a close second for BRRRR is knowing your numbers better than all of them to keep them honest.Max ltv on a refinance is 75% for the most part. 

As for prevention, the biggest thing is to avoid any wood touching the ground.

The biggest lesson that I learned was learning the lingo and what step there are to take, the components of the deal.

The first and biggest problem is that all lenders that I know of will only lend on a transaction that is arm's length, meaning not being purchased from a family member.

My biggest struggle is that I am OCD about timelines and communication....dealing with lenders, escrow officers, other brokers and sometimes clients that ignore timelines and communications brings me a lot of daily frustration.

This is the biggest investment of my life and I feel like I should be making a more educated decision rather than just picking the first person whom happened to have a listing I was interested in.  

The biggest pro is that I won't have to involve my mom in any way.

Incentives are effective.

The biggest perk of having a license is access.