I succeed through lots of failure.

A 2nd lien is stripped and the Chapter 13 is dismissed for failure to pay, and a week later, filed a Chapter 7 that was discharged.

I think that's what separates success and failure.

In other words, with a 650 score, expect at least one late month in 24; with a 590, expect between 2 to 3 late payments (or complete failure) over 2 years.

Many OOS investors set themselves up for failure because they don't truly take the time to understand:1) The Class of the NEIGHBORHOOD they are buying in - which is relative to the overall area.2) The Class of the PROPERTY they are buying - which is relative to the overall area.3) The Class of the TENANT POOL the Neighborhood & Property will attract - which is relative to the overall area.4) The Class of the CONTRACTORS that will work on their Property, given the Neighborhood location - which is relative to the overall area.5) The Class of the PROPERTY MANAGEMENT COMPANIES (PMC) that will manage their Property, given the Neighborhood location and the Tenants it will attract - which is relative to the overall area.6) That a Class X NEIGHBORHOOD will have mostly Class X PROPERTIES, which will only attract Class X TENANTS, CONTRACTORS AND PMCs and deliver Class X RESULTS.7) That OOS property Class rankings are often different than the Class ranking of the local market they live.8) Class A is relatively easy to manage, can even be DIY remote managed from another state.

Due to hundreds of startup failures, I witness with my coaching, I will have to second @Jay Hinrichs and @Mindy Jensen in saying that being undercapitalized and/or not put aside reserves for when thunder strikes are one of the top ten reasons why most businesses fail.

I think lack of financial education is one of our country's biggest failures in the last century. 

Put some deals together, keep them in the loop on your successes and failures this builds trust and confidence.

Many, many, many more find failure much faster.

This might be seen as a cookie cutter approach that negatively affects the investors who aren't as unethical, but from my point of view, it's going to be better for a lot of people, who were just being setup for failure by slumlords.