The only studying I did to pass that ridiculous test, that by the way has absolutely no bearing on reality and has many many questions and answers that are factually wrong (you read that right, the test has questions that are wrong, and you have to answer a bunch of the questions wrong to pass the test too, if you answer everything right you will 100% fail the test)(1), was the weekend Chamberlin Real Estate School 2-day crash course that "teaches to the test, not to reality." 

If people hit the Zillow Offer button instead of go to wholesalers that could sink a lot of individual business models.   

The operational piece of apartment syndication is critical, and even if a deal is solid and the market is strong, poor operation can sink a deal.Those are the three major types of risk. 

The insect/bug clause in your lease is good in theory, but in reality if they are the kind of people that allow their apartment to get to the point where there are cockroaches they probably do not have the money to pay for treatment on top of their rent and in the end if the infestation lingers into the other apartment it becomes a bigger issue for you, not the tenant. 

And if a sink drips they'll send me a text so i can fix it before it becomes a real problem.

Or, you buy stuff that will be a time sink for no real upside.You can dig a bigger hole with all cash if you do not know what you are doing.

@Scott PassmanIf the point is that you don't need to do courses in REI to make money in it, sure.If the point is that college is really not the best place for types that can handle self-education, sure. even Elon Musk has repeatedly gone on the record to insist that he's a better rocket scientist for having two BS degrees in economics and physics and then dropping out of a PhD in energy physics, and a lot of people he's hired agree.But the reality as I saw it in my former profession as a teacher is that most people suck at self-education, suck at a nuts-and-bolts level on the tools of autonomous learning, research and analysis, suck in general at doing anything when someone isn't there holding their hand for them and patting them on the back every day.

Might not be bad to look at someone else to team with and get bids from multiple players every few jobs going forward, just to keep prices tied to reality. 

@Chandra Reid It’s just the “knowledge of the process” or “experience”.....the reality is you are u likely to close on the sale.

Not just under sinks, but around toilet flanges and the traps that service tubs / showers.I would like to see all your numbers, as I get very nervous when I read things like "the rental income is higher than the mortgage payment."