I was now confident to make an offer below an already low price.

I find that when networking, with a goal of finding a mentor like connection, it is much easier when you are confident in your ability to communicate intelligently about whatever industry/asset class it is you are hoping to learn about.

It was out of state and with as small as it was I took a gamble and did not step foot in it until i owned it, but I had the local realtor go thru and do a video and a basic eye ball inspection and felt confident.

At that point, it could be anything that pricks the bubble and causes the unwarranted confidence to dissipate.

If the actual toilet or a branch line that is connected only to one specific unit clogs due to something forbidden that I listed in my lease, I can confidently charge the plumber's bill to that tenant.

I have considered out of state but my confidence(knowledge) simply isn’t there YET to go into something like that responsibly.

How confident are you in that, are there other people in your area doing that? 

After listening to the first year of podcasts (up to ep. 104 now) and reading several of the recommended books I felt confident enough to start looking and put in an offer after a month or so of viewing properties.

The real wealth is made/captured when markets are weak, and other investors confidence is low.

Mostly it has been appreciation with a big boost from value adds that have allowed me to be confident of weathering a financial crisis similar to the GFC/GR.In my market, market appreciation has been a near constant positive impact on ROI and therefore is king.