I 100% agree with the comments above about preliminarily chatting with a lender, as what you can qualify for is going to be the biggest hindrance for your purchasing.

The biggest thing I learned was, I am an agent and in this situation, I could have explained early on what the sellers could net in the current condition and explained all the buyer pitfalls.

@Brandon BeattyThanks Brandon, my biggest issue was understanding the new purchase price of the asset 

Hello Omari,I think the biggest step to take is to have a strategy discussion with your lender(s). 

There are lots of things that I have learned when rehabbing my unit and buying this first deal but the biggest thing I've learned (and am thankful for on my place) is buy something with good bones. 

The two biggest issues are property taxes and flood insurance.   

The biggest lesson learned was I needed to get access to the lending institution's pay off amount.

Self management also gives you the ability to pay close attention to the details that have the biggest impact on your cashflow.

The biggest lesson learned is to have reserves because you may be inheriting really bad tenants, so you'll need reserves to float you while things are getting worked out.

I have a permit # but it is not on my listing, so you can't rely on that......I would start with an internet search, but don't believe everything you read on the internet.