However, today investors really need to conduct business with greater expertise based on basic real estate and financial principles. 

It must flow from your personal life, and how you conduct yourself, into your business dealings.

We take photos both prior to move-in and while we are conducting the move-out inspection with the Tenants.Now, if it is a matter of a bit of dust on the baseboards or windows not cleaned, we'll let it slide, but if we need to scrub walls, floors, bathrooms, and haul-away trash, etc. before my crew can paint and affect repairs, we charge the outgoing tenants.

I know that in my state you have to be careful if you are offering on behalf of others for the  sale or purchase of real estate, exchange of properties, negotiation of rents or leases, collecting rents, listing property for sale, writing and presenting offers, negotiating options, conducting auctions, advertising real estate, prospecting for clients and customers.For sure find out what the laws are in your area and follow them.

-Don't destroy the place-Exercise good personal conduct and don't disturb the neighbors-Keep my appliances in good working order-Yard maintenance is your responsibility-And of course... those air filter thingies?

Look how many times he is paid for conducting a 4-hour seminar.The old pros know the value of their knowledge.Rick Harmon,You are correct, real estate can be intimidating, especially constructing a deal that better suits all parties.

In all those years, I have never asked for or reviewed a credit report or conducted a background check.

Secret Service, the agency responsible for conducting the government's investigation.

Investors in my state could go to the local magistrate and report the conduct.      

If you and your partner don't share the same basic philosophy of conducting business, it may not work.