Doing quality diligence requires very smart people who are experienced.  

You're in the right place to learn, to network, and to ask questions.My first note purchases happened a few years ago and involved a JV with an experienced note investor with 2nd position NPN's.

Any recommendations from the experienced crowd as where I should look for, and what are the gotchas.

That is why the more experienced contractor will start with a higher mark-up knowing that the investor will not want to pay for change orders.The best solution to this dilemma is to get better deals.

I'm looking to learn the ropes from more experienced investors as I would like to leverage my current properties and scale up into opportunities that are more profitable in the next 5 to 10 years.

I'm no means as skilled or experienced as a lot of other BP members but if you want to chat RE I'd be more than happy to get acquainted.

Looks like to me you'll have to partner up with someone experienced to do  the first couple of deals until you get a track record/bank roll going.You say you're "handy."

Lot of different but well reasoned/experienced perspectives on this thread.

If you buy right even in a hot market you should be able to hold through any downturn experienced.

I would also love it if anyone could refer an experienced team that could install hvac (preferrably heating AND cooling) once the old system is out. :)We finally settled on the deal, to be closed on the 10th.