But the only way the rest of us are going to get to that point is through trial and error no amount of book reading or reading this forum will prepare inexperienced real estate investors for a housing crash. 

Check the flood situation carefully and don't skimp on insurance and be prepared for it to go up about 5-10%/yr.

It could be done at any time fairly easily and I wouldn't be surprised if they still do it.As others suggested, prepare an updated account summary.

Now I try to go in a little more prepared.

Be prepared to close on it if you don’t sell it in time. 

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If we do end up in a bind, we can't necessarily control what our tenants can pay, but we can control our own steps for preparing for that eventuality.

I use an RMLO that qualifies my buyers and prepares and executes all the legal paperwork required to do financing deals.

Beside the rate risk on the ARM, I'm interested in the forum's exposure to these two loan structures and any risks or restrictions I should be prepared for.

May have to consider that, to be on par with competition.Operations:We are preparing for next year to do Contractor Incubator buildings up front.