If you hold real estate long enough, you almost never can make a mistake.

Many investors make the mistake of over-improving their purchases in Class C/D areas, which when damaged by Class C/D S8 tenants - costs them thousands.Another fallacy of S8 investing is that the S8 Caseworker will keep the S8 tenant inline by threatening to take their voucher away.- The reality is this depends on each individual caseworker.

If something pops up in the first two weeks, then I will cover it just in case we made a mistake and as an offer of good will.The stray cats are not your fault or responsibility.

Worst case?

A lot of new posters mistake analyzation for action.

After I learnt what I had to by making mistakes, hosting open houses, and closing a few deals - I switched to another brokerage that dealt mainly with offmarket properties and investors (both residential and commercial). 

Arbitrage is the worst.

Worst case deposit money at each bank and earn.  

Worst case is I can still rent them as furnished room rentals, or rent the whole house as a furnished rental Check your regulations before you give up.

Most renters' worst nightmare is being evicted and having to find somewhere to go.