Cleaner enforcementIf someone violates the lease, moves out, or causes problems, you can address that tenant specifically without impacting your kids or the other renters.3.

. - A screening app should provide their last several years of reported addresses.

Looking for a lender.Hi Nicole, I'm happy to chat but I don't DM here.Please email me (my address is in my BP profile) and let's discuss!

Before taking capital from anyone else it is important to understand why and address those issues directly.

Actually, for me, the holy grail of leverage would be a VA loan (I'm a veteran) but, again, I'd have to change my address, which my wife might not appreciate :DThat seems to leave some flavor of BRRRR as an option to generate capital for acquisitions beyond property #1.TL;DR I have cash on hand, but I'm too old and chicken to dump it all on multiple properties and hope for the best. 

I really appreciate the candid feedback and the intent to help new investors avoid costly mistakes.To address your points:Regarding investing locally: we currently live in San Antonio, Texas, but due to my husband’s military service, our location is temporary and subject to change.

I also appreciate that, early on, the question is addressed about whether we need to hire a guru.      

Research the area you plan to invest, learn what the most common expences come up and how often, apply a little common sense (add extra to the budget for the unexpected), and build a cash reserve or contingency plan to address these expenses. 

See the chart from Fair Isaac Company (FICO) below: FICO Score Pct of Population Default Probability 800 or more 13.00% 1.00% 750-799 27.00% 1.00% 700-749 18.00% 4.40% 650-699 15.00% 8.90% 600-649 12.00% 15.80% 550-599 8.00% 22.50% 500-549 5.00% 28.40% Less than 499 2.00% 41.00% Source: Fair Isaac CompanyAccording to this chart, investors should use corresponding vacancy + tenant-nonperformance factors of approximately 5% for Class A rentals, 10% for Class B and 20% for Class C.To address Class C payment challenges, many industry "experts" are now selling programs to newbie investors about how Section 8 tenants are the cure.

Value was created through a comprehensive renovation that addressed both interior and exterior improvements.