If you find a property that has a great ROI, think of reasonable worst case scenarios and if you think you will still be fine, take the leap.

To start, you need to expect you'll make some mistakes, you'll think you understand things one way and later have a different view, and you'll grow.

I have a specific area I'm interested in and am not afraid to make mistakes.

If you make one little mistake, they can walk away without penalty.

As time goes on more and more of your monthly payment will goes towards the amount you owe.Example on $176,000 loan @ 4% Principle reduction  BTW I made a mistake because my mortgage calculator was set to start the loan in Jun so you actually would pay more to principal than I initially told you its actually a 6.2% return bringing your total return to 17.94%year 1   $3,099.42year 2   $3,225.70year 3   $3,357.12Hope that makes sense

I made the mistake of going out of state early on.

@Greg O'Brien under an S-Corp@Michael Plaks Thanks for your response I'll take that 80% chance to qualify, worst case I just return that portion if not forgiven. 

I love hearing the good, the bad and the ugly stories as I believe we all have something to learn from everyone's successes/mistakes.

I love hearing the good, the bad and the ugly stories as I believe we all have something to learn from everyone's successes/mistakes.

I'm happy to share so that hopefully others don't make the same mistake that I did. :)