Not verifying transfer of utilities before move-in.In the grand scheme of things, 4 months lost rent was relatively low tuition, considering those tenants impelled us to solidify and enforce the policies we have now.

RE is not a get rich quick scheme.

This is an investment, not a get rich quick scheme… Compared to how much you can generate in the long run, the upfront investment to join is more than fair, if not a bit generous, in my opinion.

This was a scheme whereby he agreed to build a public library and fill it with books in any community that asked for one, as long as the community promised to set aside funds to staff and maintain the library, and add to its collection into perpetuity.

The rest of your living space should be flat, light, and neutral colors.Deviate from this simple paint scheme and you will meet people with refinement and taste who think you just have less refinement and taste than they do.

If you get caught running a ponzi scheme and the feds come in and seize all of your assets and throw you in the hoosgow they wont be able to touch this money.

(if you are in the right market).2) The ability to buy cheap from moms and pops with huge room for upside in rent increases and occupancy increases.3) The ability to obtain seller financing (which is what got me into the business to begin with).4) The huge underlying value in being in an industry that has not allowed new construction since the 1970s.5) The low management intensity when you are just renting land.6) The only remaining sector of real estate in the U.S. where you can hit 20%+ cash-on-cash returns if you are smart.7) The win/win business model of bringing old mobile home parks back to life.8) The beauty of being in a business sector that is on the right side of every American megatrend.But there are also the following drawbacks:1) Suffering through a huge negative stigma that makes you embarrassed to even tell people what you do sometimes.2) Suffering through some city halls that hate mobile home parks and everyone associated with them.3) Suffering through media that assumes that anyone who owns a mobile home park is therefore evil no matter what you do.4) High levels of risk (and almost certain failure) if you do not conduct good due diligence.5) The endless risk of private utilities unless properly vetted.6) Learning to adapt to the customer base and being a good landlord that gets the job done in a friendly way.7) Not getting involved in the hysteria of some markets that offer little in the areas of returns or safety.I cannot emphasize enough that this is not a get rich quick scheme, but a get rich slow scheme.

Below is a picture from a flip we have under contract to be sold that should give you an idea of the color scheme.

You see the exact same thing for get rich quick schemes for the stock market, only there its even more absurd and it is often clearly and blatantly fraudulent.Snake oil salesman have been around for a long, long time. 

It feels big to me, but in the grand scheme it does not rise to the level that it should draw the attention of BP.