Also be able to talk about the pitfalls you have experienced and how you have resolved them.

See if you can find a local investor who can act as a mentor and let you shadow him through the process of what all he does--due diligence, investment math, contract-to-close, ins and outs and pitfalls, etc. 

I have thought of offering cash for keys, but think they would accuse me of bribery or something to that effect, even though that is common and legal if it is agreed upon between parties to my knowledge. 

Hey team! I am doing LOI for 12-unit commercial property. They want escrow money at 2% of asking to submit a LOI. Is this normal? FYI. This is my first commercial property I am pursuing. We didn't do a LOI with my oth...

We are mid-stream through a value add process which will enhance the quality of life for our residents and increase the value of our asset through unit upgrades, common area and amenity enhancements, and ultimately rent increases.

Those "operating as" are pretty common here. 

One insurance policy per physical structure is common, yes.One institutional mortgage per individual property is also how that works.

Common HungerIf one person has the drive to work around the clock, burns the midnight oil etc, and the other partner turns their phone off at 5pm, takes weekends off and monthly vacations, the workload will quickly become imbalanced, resentment will build, and you will need to dissolve the business.Complementary Skill SetsDon’t partner with someone just like you.

More common today then 18 months ago. 

A common thing I have run into is estimating repair values accurately.