Then, I did the math and realized that I made a mistake and the following charts show that with a $500,000 down payment my friend will earn maybe more than $1.5 million in 5 years.You have to do the math.

In our experience, the #1 mistake landlords make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.

What’re typical mistakes that beginner investors make during the due diligence process?

Check out their online reviews, see if they help other investors and what those investors have to say.Here's a great post with some questions to ask, and this will be far more useful than any credentials: Questions to ask a potential Accountant (biggerpockets.com)Sorry, but your response does not make much sense.It sounds like maybe you are generalizing maybe the worst 5% of CPA's who would not be able to complete a tax return.Below are the credentials required to become a CPA for most states1) Completion of 150 college credits2) completion of 4 examinations on tax, law, business structure, accounting and assurance.3) Annual CPE(Continuing and professional education courses)4) 1-2 years of work experience working underneath a CPA.The original poster is not looking for a bad CPA, he is looking for a qualified one.Thanks

I consulted with an attorney that confirmed that and we were going to send him a demand letter, but he ended up just releasing the funds before hand.another point is to work with a better realtor + title company. they were not on the deal in terms of dates and no one (including me) paid attention to the important dates, kind of a beginner mistakes but i had some issues in my personal life that took my attention from that and i did expect the 'professionals' on the deal to be more on top of these dates , but i take responsibility for that as well. i just wont use either of them in the future.Hope that'll help anyone else as well thats why i shared this info, and again thanks everybody for the support, both the mental and technical one.Appreciate yall and happy holidays.

In our experience, the #1 mistake landlords make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.

Live like your worst year.

I know it will be cheaper to do it myself, but I don't have the confidence that I can pull this off efficiently and I need to make as few mistakes as possible. 

That's correct Wendy - I had a friend in the state there and relied on him and the home inspector, and I should've gone a different route.BUT - all mistakes are learning lessons and I've learned a ton from that property.

In our experience, the #1 mistake landlords make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.