Most importantly I want to learn from your mistakes in real estate and avoid them.I started an LLC with my partner in November.

 =)  If a "newbie" makes a mistake in SEO, perhaps they won't get a ranking boost from it, but it doesn't cost them $$$$ like a big mistake made in PPC.  

I would suggest that you understand local tax codes as I have seen many investors make this mistake. 

Do not mistake downpayment for equity.  

Never make the mistake of believing you'll make more because you'll be a better manager.

You learn a ton from your first couple of deals, so start out small so your mistakes are small.  

For most sellers and buyers it is a high dollar, emotional transaction that they do only a few times in a life time; and a simple mistake or misunderstanding in the process can become a large liability.

@Brendan McGinnis  in my mind its a HUGE mistake to put this time and effort into wholesaling and not be licensed so you can pluck these deals off.now on your bandit sign you would need to in very small letters put your brokerage affiliation ( at least in the states I hold brokers license's  you would.And access to the MLS I think is critical in the industry its the one way you can be sure of your comps..

Sorry, my mistake. 

I regret the mistakes I made on this previous project, but I'm not ashamed of those mistakes, and I'm not going to hide them or pretend I was anything other than ignorant and probably just plain stupid at the time.