Hard to believe that many didn't underwrite the deals better.I guess it can be missed but you gotta account for "Black Swan" event's Jamie Dimon style like the current interest rate fiasco.7 years fixed is no where near as 30 years fixed...Now the pants are down ehhh 🤷‍♂️

You will also learn A LOT from your first property just by owning it and you'll want to mitigate your financial risks and get into good habits ASAP.  

On the bright side, take any and all lessons learned you can from this (Better screening?

You are going to learn a lot on that one that will carry on to the next and so forth.

@Jim Bo biggest mistakes investors make when doing business with friends is NOT treating it like a business arrangement.You'll need a detailed partnership agreement covering buyouts, capital calls and what happens if one of you dies.Why would you pay him while he learns property management?

Putting together a team out of state is hard enough as it is, but learning REI and building a team from a distance at the same time could be a recipe for disaster.

Lessons learned?

It is not rented to a non profit and Lessons learned?

Like everyone said, BiggerPockets is a great place to be to connect with like-minded people and to learn more.

I am happy to join Bigger Pockets and looking forward to learning from and working with the community!