I look forward to making these decisions every second, not that they will not be redundant and common sense I'm glued to my phone.

I'm starting out my investing in downtown Cincinnati, Ohio because I've lived here for three years and I think I understand the market and its drivers, and prices continue to appreciate.I see real estate investing as a way to build a base of passive income to make sure I can take care of my family if their health or the economy fall on hard times. 

Then the attorney says, well, he has caused you to incur a financial loss by devising this off the wall financing arrangement that is not common practice around here, we'll sue him for damages!

This is important to determine the health of the business versus a percentage of the rent they pay you.As an example a business doing 1,000,000 in sales you generally do not want to see more than 10% going to rent or 100,000.4.

Thank you @Chris Music and @Julia Blythe, I thought that was the case being common sense but I had a conversation with another flipper and he said to leave it as is...I appreciate the feed back.

Is this common practice?

From what I've read and heard (and from common sense) it seems there is an inverse relationship between the quality of tenant and typical repair/turnover costs.

The common theme I continued to hear from those involved was "house hacking" as an excellent beginner's strategy.

What are some common mistakes made by new investors? 

lolAs an example, the federal banking regulators, including the OCC, last issued a big written warning about CRE concentrations in December 12, 2006, when the most commonly referred-to guidance regarding CRE concentrations was written:https://www.fdic.gov/news/news/financial/2006/fil0...By then, it was too late to turn back...The only reason I would know that this announcement is not even MORE later than it should be, is if all 3 federal regulators - OCC, FDIC, & Federal Reserve - had agreed.