An investor who chronically makes these mistakes will not long be an investor.The common mistakes made by experienced investors are a bit more subtle, but are perhaps even more damaging because over time the costs are compounded until the entire portfolio is affected.1.

There is plenty of common ground.

We're a little past learning to identify good deals... no problem there. 8) We've also got several good contractors working with us.At the moment, its probably having too many good deals available at the same time that bank financing is tightening up :cap: But I imagine that's a common problem right now.

You just have to sift through it and take away what's good common sense.

If so, having common utilities is not good.Good Luck,Mike

What are some common renovations that you know of that would require a permit if sold?

Not only can the lender not sell you the property (they could sell the note but thats not common) but they can't even talk to you about the property.You would need to get written permission from the owner for the lender to talk about the property.

Does the bank pay a commission to ANYONE in these transactions or is it common practice that my buyer would have to pay the 3 points?

From my observations and experience, I would say that the team members you select should be ideally referred by other investors who you share common philosphy with.

It seems we have a few things in common, being that you have played online poker for awhile, and now your interested in REI.