A common misconception is by using a property manager you will be a passive investor. 

Remember, LLC's don't provide additiona tax / accounting benefits unless you are investing with a non-spousal partner.Look at this thread for info:  https://www.biggerpockets.com/forums/530-short-term-and-vacation-rental-discussion/topics/887030-llc-misconceptions-and-educationYou can check out this prior thread about a couple who tried to do everything right but admits if they had to start over they wouldn't have used a LLC:  https://www.biggerpockets.com/... 

One misconception I'm learning from out of state investors coming into Florida, for example, is getting beachside properties.

There is a misconception that you getting your license inhibits you from still using REALTORS.

Maybe that is a misconception.

They likely know the power of the MLS, but test if there are any misconceptions.

Just for completeness, I spoke with @Grant Schroeder, and he informed me that a house hack is likely not doable in my situation, largely stemming from some misconceptions that I had.First, I'm aware that a conventional loan on a primary residence can be acquired for 5% down, but this only applies to a single family swelling, not a 2-, 3-, or 4-plex.

@Chris Lyons - That is a big misconception and I have buyers all the time get houses under contract with FHA products.

The misconception I keep seeing is that investors doing these venture type deals ( development, construction, reconstruction) want to attract financing with the same 20 - 25% down used  on the purchase of an existing cash flowing with debt coverage improved property.  

Misconceptions and myths keep competition almost non-existent.