Criteria – I will select properties that can be acquired with a 65% LTV with a cap rate of 5.6 to 10% (based on size of acquisition and financing in place) cash flow sufficient to generate a minimum cash on cash return of 11%.

increase in property taxes upon reassessment from property saleunderestimating loan closing costs and/or excluding them from CoC and IRRoff site management can be costly in tenant attraction and retentionhiring the wrong 3rd party manager...cost both $s and timedip down to too low of a tenant class or market and underestimate turnover and repairslack of lender connections - end up with poor termslack of proper debt structure knowledge - can end up without sufficient capital to properly operate the property, pay unwarranted prepay penalties, early balloons

Then you can get referrals from people you've helped along the way and sleep well at night knowing that you've conducted yourself in an honorable fashion.

This is definitely a decision to sleep on.

With repairs done and the attic closed in to a large sleeping loft/game room, I should be able to pull out most if not all money invested next year and net $1k/month.The deals are there if you look for them.

I go to sleep thinking about what I'll do research on the following day and get excited because there's sooooooo much great knowledge out there and here on BP that i need to absorb! 

A Google search should be sufficient for that.

Its a lot easier to sleep at night knowing that if the market took a dump, my properties will probably only increase in cashflow regardless of the valuation.  

It's a very conservative plan which allows me to sleep at night and maintain a stable marriage for 24 years.

if done right and monitored, hourly most likely will end up cheaper than a whole bid upfront.just make sure they are diligent and not sleeping on the job if u are not there.