Get familiar with the terminology and different kinds of investments and pick what you feel you will be comfortable with (flips, short term rentals, long term rentals, BRRRR, buy and hold, etc.) its a whole new language you have to learn.

It took me a year or more to get comfortable during transactions as an agent and from the RE investor perspective.

Set aside 10%, or whatever you are comfortable with, until you have a healthy reserve based on your personal situation (finances, # of rentals, cashflow, W-2 or other income, age of rentals, etc.).

It may not be a market you know but I can help you get comfortable with it!

Also, our number one service is comfort and safety to our dear future tenants, and our peace of mind.Third option is, just don't rent it, keeps the code enforcement away, and great lesson learned.Best wishes.

If you aren't comfortable with that, you could look for a deal that doesn't need rehab (or has minimal).

That makes a lot of sense to me, as private lenders are going to vary in what return they're comfortable with.

Is your partner comfortable with your decisions on when to refinance, sell, tenant relations, etc?

You just need to figure out how to make it work and where your comfort level is in terms of roommates.

Run your own numbers, learn your markets, figure out your comfort zone...... and forget what everyone else says.