(however not that high...UNLESS...due to the following:When an electric stove or an electric water heater (high electrical users) go on the fritz, it shoots a lot of current into the electrical meters and your bill can be $500 or moreWhen a water main breaks and shoots through the water main meter, your bill can be $4,000.00, (that happened to us)  But this is water and not lights or gas, just using this as an example.Electrical dryers use an awful lot of electricity, and when they go bad, watch out!

Take Joe's advice and hook up with someone close to where you live and basically say I can give you leg work running to the courthouse, painting units, checking on properties etc. in exchange for letting me watch how you do things.Remember each no you get just means your one step closer to getting a yes. 

The absorption and new supply numbers will continue to be watched closely with significant new additions expected to the apartment stock over the next several quarters.

From Trulia’s Bubble Watch article from January 2015, it’s no wonder that California’s hard money lenders are now requiring appraisals prior to funding properties.

The shoes are gone so time to save the watches......... : )You need to run a rental business LIKE a business.

Is there anything I should watch out for that could hurt me in the long run?

;)  I've watched Ben's BP podcast relating to his first major apartment building acquisition (in progress).

Watch out for the trees/don't sweat the small stuff (and it's all small stuff!).  

Watch the movie "Boiler Room",  (I know they are pushing penny stocks, not blue chips)I always say when raising private money investors for rehabs...."

I  have been reading and watching videos on wholesaling and now I'm looking for my first deal.