I think a full time income as you learn the business will allow you to sidestep some of those pitfalls. 

Lessons learned?

I'd suggest lurking and learning, maybe make some popcorn too ;-)

If you want to learn more about this product option feel free to reach out. 

I would say many owners getting tougher on background checks, so when they learn their new credit score, they understand they can't qualify at the new place. 

The size of the lot and potential experience I would learn going through the motions.

It's been a journey of discipline and learning, and I believe I'm now at the stage where I'm ready to start actively shopping around for real estate investments.However, embarking on this path is both exciting and daunting.

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases.

props to you for getting started at all; perhaps these two deals were not the best ones out there, but you got in the game & learned from them!

Yes indeed mate.I probably would have fixed the rate also but "underwritten" the deal from a worst case rate scenario like I would do with SFH if financing.I'm not versed in large multifamily deals and would love to learn more.I think I could really do some "damage" in the field because I own and run a property management company and we run a tight ship that's very well optimized from an automation aspect and affiliate fee structure standpoint.So my bottom line for example buying a 50 or 100 unit would be much safer/higher due to in-house PM and "working" the margin.