A professional RE investor once told me, when it comes to purchasing investment properties, to never take ownership of anything unless it's rented, leased, or sold.

@Keeya WangJones,The calculators on here work well, consistent, and look professional when showing the person you are obtaining financing from. 

A few questions for:-investors who are targeting rental properties holding for mid/long term, - already have few years of experience doing so-NOT a 'do-it-by-your-self' approach - investing out of your town or state and using local professional teamsThe questions:1.

Long story short he said he couldn't let it go for less than 80 and I said you could probably get that if you hired a realtor but I'll give you 43 and he said OK.

Thanks for the warm welcome @Andrew Syrios Chris Mason I read your blog post (The Case for Managing your Rentals Yourself) and was wondering if you had any thoughts about how close you should live to be able to manage a property effectively yourself vs hiring property management.

And, he thinks you're less likely to get a professional tenant when working with people who typically have less education.

No its not too late as you can hire your agent at anytime before you submit an offer.

However, many people succeed there, and if the property is well or professionally managed, it can be great.

I currently am a Sales professional with Nestle.

Get a professional tenant and you could be in for death by a thousand cuts. 2) Not knowing your numbers - If you buy with the wrong numbers you can get in trouble quick. if you just assume that you buy for X rent for Y and pay Z in mortgage, insurance and taxes you will be in for a big suprise when things start breaking etc. turning your good investment into a money trap3) Related to number 2 and a fairly common one if you spend all your profits and don't reserve when suprises hit you will not have enough money to cover it4) Not keeping up the property - No one wants to live in a dump, a slum lord attracts slum lord tenants and this can eventually catch up to you5) Speculating  - This could go very well or very bad.