I have a competitive edge though.I co-founded a property maintenance company that exclusively works with investors and property managers to maintain and optimize the use of there funds.

She's a very stingy person and refuses to properly maintain her properties.

The best way to hedge against the risk is to secure long term financing, don't over-leverage, buy for cash flow, and maintain sufficient cash reserve.FHA is a great way to get funding, but just be careful that you will have sufficient cash flow to cover the financial costs, which includes the PMI and the debt service.

Keep and maintain a maintenance schedule. 3.

Your inspector probably told you they are "end of life", but the reality is that they could very well keep on kicking for 10-15 more years if you maintain them well.

The tenant will refuse to report maintenance because they don't want to pay the $60 deductible.As a Landlord, you are legally and morally responsible for maintaining the home.

@Mehgan MooreI'd probably pull as much out as I could with still maintaining a solid $200/mo or so cashflow.

Avoiding pitfalls: Find a niche that you suites both your skill set and your mindset.With our strong diy renovation skills, we look for value add properties that have been decently maintained but need updating, and where we can still get a good deal.

The good thing about being an agent is that if you maintain a relationship with the buyer, you can possibly list their property when they rehab and rent/sell it.

I think if you're going to be in a partnership in REI it takes character and humility to work effectively with other people, just like any other relationship.With that being said I am branching out to take down some deals on my own, but I also maintain my relationship with the investment group and do deals with them.