---So, learn the neighborhoods where you plan to invest and use Google Streetview to virtually explore them.3) Poor Tenant Screening - they typically can't sell a property until they place a tenant.

Excel tells me how much all of the regular things are (mortgage, insurance, etc), but the notebook is where I track everything for taxes and what I grab when I do my taxes (along with a file with all the receipts and copies of bills). 

@Ryan BiankowskiYou absolutely can.Research your market, come up with a flip strategy (what type of house you will want to purchase, how you plan on finding this property, what area you want to purchase, how you will come up with financing), find the property that fits this strategy, secure the financing, and close on the deal.

Meanwhile, while you wait for an uncontrollable event like appreciation, you are losing $1,000 +monthly if you have 100% occupancy on a LTR at $2k per month.( prop tax, insurance , mortgage)Cut your loses.

Hello,I am in the process of closing on my first property, a triplex I plan on owner occupying for 1 year.

While we plan on doing a lot of the work ourselves, we are realistic with our limits and will need to hire much of it out. 

The rest was carrying costs: utilities, insurance, purchase and sale closing costs, and interest payments on the loan.

However, there are more factors than just pricing, the value and strategic planning needed to help you cross the finish line.

Insurance and Title Shop around for home insurance companies that best suit your needs and select the insurance company that provides the amount of coverage for your home owner’s insurance policy.

I can think of mortgage, taxes, insurance, STR insurance, water/sewer, electricity, trash, internet/cable, cleaning (can pass through), supplies, and software.