Like most I am here to learn from the experience of those that have gone before me. So my question for you all is this; if you could do it all over again, what would you have done differently? To narrow this broad spectrum slightly, in the first 5 years.
I would have factored in other items in my budget calculations. Instead of the usual property taxes, insurance, property management fees, and loan payment, I would have also added in CapEx and a minimum cash cushion in case a need such as vacancy or other repair needs to be made.
When I bought my rental I went all in just to buy. Luckily I have three jobs so I could eat the initial vacancy and expenses that came up. But definitely hold some back when you're getting into it.