I paid off 11 rentals last year and have a fat 'opportunity fund' but still have a primary mortgage. 

What about when you are sued for everything and lose your home.After a tenant burned down one of my houses with kerosene heaters and could have killed the kids had they not been staying with the other parent on new years eve...

I do not want to get "Torched" financially for a first time investor, OOS.I want to do things right starting out of the gate, I don't want to be that one who posts "Here's my experience in getting burned in investing OOS for the first time".

So they tend to try and do everything themselves.As they get further along they tend to learn you get further by doing what you do best and delegating other activities. it is actually usually more freeing to delegate and give up some control then try to do everything yourself as you tend to burn out faster.I have learned things I am okay to good at others are EXCELLENT at.

I saw many brokerages get cocky last upside and grew too much and then burned through cash waiting for the cycle to turn around quickly and they evaporated most of their profits before scaling back or pulling the plug.With Trumps tax policy nobody knows for sure but everything I have read points to a strong top cycle extension for the next 2 to 2.5 years before the natural cycle down turns happens.

And then a nightmare tenant situation comes along and burns up all of your "savings" in 2 or 3 weeks of calls/complaints/issues.

I've seen some long distance investors get burned out here, but for the people that actually know the local market or have a good set of boots on the ground, there are a lot of opportunities.

@Monique Burns, Depends on what & where.

soap for fats and sugar, I use Coleman stove gas (white gas) for tar or oil based stains, and water for most anything else, go easy on the water as you don't want it to get on the other side of the polyurethane (through cracks and grooves). 

Follow up on tax sales that have not been foreclosed - some fat equities there also.Attend some of my real estate auctions - some good deals there.Make many offers - sight-unseen subject to inspection - do this right and it will accelerate your success in this crazy business.