When you buy a deal that looks weak with an optimistic analysis you're setting yourself up for failure when reality rears its ugly head.

So we continue with high unemployment and weak growth.

If your personal "why" is weak or without strong conviction to build a business over time, I do not want to get involved as a REI coach.

Everyone in the team has his strength and weaknesses.

Something to consider, however is that 1) We have about 350 units in about 13 different properties (so a medium sized business) and 2) My background is a computer programmer/database developer for 18 years, so I have higher expectations than most in any given software.That being said, here is my list:1) Their reporting is very weak.

Re-aging a collection is illegal for time limits for removal and you can hammer creditors for trying it.The debt is still owed but the collector has weak options and will settle for cents on the dollar.

Weak years four and five years earlier hurt the value and forced us into a cash-in refi.

I guess it's clear from his thoughts that he doesn't think Blackstone and so on are artificially inflating prices, or that the weakening middle class, or middle class debt (student loans, for example), or that our economy 70% based on consumer spending (read: a populace that can afford to buy things) are weakness to cause one to steer clear of long term holding of real estate.

My biggest lessons learned here were:1) Have more than enough reserves than you think you might need (or quick, reliable access to other cash)2) Know your standards, and stick to them3) Don’t give up long-term goals for short-term gains4) Have an exit strategy/mitigant in place for weak(er) tenants if you do accept them or are in your tenant pool due to geographical location.

It gets weak after awhile in spots too.