NOTE: I like your idea of syndicating this asset and also bringing on other, more experienced operators/partners for your first one.

A great experience for everybody on the team -- really very personally satisfying and loved the team experience.

Raise plenty of capital up front and have reserves for any of your current properties.Do Not Over LeverageSome experienced investors are purchasing at 65-70% LTV (Loan-to-Value) instead of the normal 75-80% to give them the extra cushion.

Were they experienced in their real estate businesses where they needed that for their business to grow even more?

Many experienced investors say that the money is made at the time of purchase.

If the owner at a judicial sale is dead, experienced tax sale folks just voluntarily pay the tax after the sale.

I hope none of you have experienced this, but in my four plex, I had a tenant give notice who was trying to dictate terms to us. 

As we grow we will continue to build a team that we can outsource these tasks to.

I am now taking the daunting plunge off the cliff into the REI world, and I need to build a team of connections for a successful business.

I just experienced my first eviction, oh what fun.