What are the major pitfalls to watch out for?

Is there anyone who could share their mistakes and what to watch out for when searching for a rental property.  

Check it out it's a 2 part audio interview.https://www.youtube.com/watch?

Do yourself a huge favor find a good mentor, watch them produce find a sweet spot that they operate in.  

Also, do more research, read the articles, watch podcasts etc. to determine exactly what YOU want to buy, then it'll help make the search process easier.

If its craigslist of some such, watch for more ads for your property and flag them.

At $400k you'd be at a 13.8% CoC which is more in line with my 15% minimum.Things to watch here... lack of a CAPEX budget (given not low taxes... and not low water... and not low vacancy... the 50% rule may not work for you here)... and in a commercial property, you won't lock a rate for more than 5 years.  

Yeah - I've been watching.

I just felt all the Testosterone go out the window, dude I think I'm going to go watch Freaky Friday or Mean Girls LOL!

I do watch some of those ghost and haunting shows… I have never seen a ghost myself… But I have heard that some ghosts do “go visiting” as you put it… I assume what you meant by that was… “Would they come over to your house?”