Competent counsel in most parts of the US will cost $15 - 20k to get to the point of being prepared for trial, so likely after your attorney extracts the most he can reasonably expect out of you he will recommend settling - that means you giving up any profit you made, or throwing g in more money accentuating any loss.  

You could read 100 books and still need to learn more because certain things must be learned through trial and error.

If you’re analyzing potential deals, try the Deal Analysis Calculator (Pro or trial).

We've seen revenue jump significantly year-over-year as well, and once you're through that first 12–24 months of trial/error, things do begin to stabilize.You're spot on that cleaning and operational costs go up with more bookings.

@Christopher Carrese Gougeon Unless you have a LOT of landlording experience already or money to burn on your "trial by fire" education, you're better off hiring a Property Management Company (PMC).Also, some of the highest cashflowing properties are NOT in areas you'd want to invest in.Here's some useful info:Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Why is Property Class so important for investors to understand and apply in their investing strategies?

For one, the term bad areas has so many variations for so many people.

There’s definitely some trial and error involved in real estate, but here are a few things I wish I had really embraced early on:1.

Anyone who thinks the economic benefits of a choice like this for you outweigh the risks needs to think this through.A quadplex that grosses $2,500 a month and is free and clear ends up being some variation of four apartments that each go for $625/month.

I still go to court because at a trial, someone needs to testify on the landlord side, and an attorney cannot do that. 

I come here everyday as do my Acquisition Specialist with some slight variations (they work one later shift every week which they do from home and one of my reps just had a child so she is doing some days from home).