-Make sure the math works in regards to cash flow (perfect this by practicing daily) BP has numerous calculators in the TOOLS section- Get great systems in place - contracters, cpa, lawyers, real estate agent, accountants , rental documents prior to closing a deal etc- When taking a loan consider using leverage i.e. fha loan (3.5%), if youre a veteran (0%) percent down - make sure to include the associated PMI (mortgage insurance) in your calculations for cashflow that i spoke of in tip #3.Im a newbie myself and i am currently in my first contract for a MFH.

Unfortunately, that's the standard practice for financial advisers in the US.  

It's not a practice that's scalable or sustainable since it can create unknown and hard to measure risk.

Disclaimer: While I’m an attorney licensed to practice in AL, I’m not your attorney.

I've been curious about this for years but haven't actually seen it done in practice yet.

Some are just fine with it and have a flat fee model for such practices, etc.  

I have another LLC for my anesthesia practice.

I have a roommate, whom I work with and trust, but i want to practice the motions of having a tenant (practice how you play).

I am also recently applied for my RE agent licence to essentially practice buy/sell/rental for not only myself, but other investors with the same passion. 

We don't ever file leases with any court here, but it has been quite a while since I was involved in rentals in your area, so that might have become practice there.