I'm a current RE agent and investor fairly new to the game, but with a goal to become successful in building long-term wealth with real estate, particularly in the multi-family aspect.

We've always done our best to only pull into the spot as little as possible to avoid getting the junk on our cars and we've been pretty consistent about washing it.Well our last car ended up needing about 500.00 in paint work on the hood because some of the spots from the tree wouldn't come out (my wife let it sit a bit to long before washing).Now my wife and I have 2 brand new cars and I need something to be done about this tree.

No on can control that aspect of life unless you work for yourself.

Avoid the get rich quick schemes."

Cut back on the comcast package, but just can't bring myself it get rid of it or the DVR.Both cars are paid off, and avoiding new ones for a while.Openoffice is a pretty acceptable alternative.I'd like to switch to an unlimited cell plan and cut off the landline, but I'm still carrying the kids on my plan.

Blue collar workers want the basic amenities (central air, dishwaher, etc.) plus lower than market rents so if you buy at the right price you can cherry pick those tenants and still cash flow.If you want to avoid tenants succesfully negiating away your profits you must have something they want that is in short supply.

So someone anyone with experience please guide me and list any critical mistakes you learned to avoid.

A closer look allows you:1) To confirm if the house is vacant2) You will start to see some houses with REO letters (bank owned), I avoid, lock boxes (means someone has an interest in the property already) avoid, Tenant eviction notice (has landlords contact info and they will be motivated), foreclosure notices etc.3) You will get a chance to network since you are out of the car- you will meet neighbors, where you can get the story on the house, contractors (mowers, handymen etc. which can give you info on the house as well as several others)4) You get to understand the condition of the property by seeing it up close.Driving your farm are in my opinion is highly recommended at least once a month (a lot happens in a neighborhood in a month), but is still one out of the 10 or more you should regularly doing to find these properties.Personally I feel there is a moral obligation if I am going to put a property under contract that I have the intention of closing it myself if I can not find a buyer.

See the part about credit partners above.My biggest recommendation is to not quit your day-job until you have a plan for all aspects of the business, including (and especially) the financing...

Also, what are the pitfalls to avoid when buying a short sale through the banks or a motivated seller?