This passage, IMO, is the root of the entire financial crisis.

Its almost a rite of passage... just how bad do you want it?

It's like a right of passage. 

If you buy something in a location with high rent growth, a property that doesnt make much money, or even loses money today if you are highly leveraged could be a cash cow with the passage of time.

@Edward Sherman - I'm pretty sure RDPD is a rite of passage.

Here's what I gleaned as a summary of hardening tips for reducing turnover/maintenance costs:panasonic bath fans with timers in bathrooms4 coats of poly on wood floorsdouble door stopstile floors, showers vs surroundssingle lever shower valve vs. doublereplace toilets with steel parts/mechanicals whenever it starts to runKwikset smart keys (some debate over efficacy)door stoppers on all hingesremove pop-up drains and replace with commercial drains2' drain lines from sinks with an accessible clean outbuy a key cutter - maker for $50 on craigslistGranite tile counters - need a diamond polisher and tile sawUsed Fixed vs. friction shower rodsKeyed deadbolt and passage knob on outside doors to prevent accidental lockout5/8' fire core drywall - can't put a fist thru it and its fire-resistant1/4" board to back up towel rodspolyurethane cabinets under sink to pre seal and drain water to the floor2x4 base under cabinets to prevent particle board cabinets from failing where they meet the floorVinyl scrap under sink and up the back wallBest of luck!

This is your right of passage, accept that you'll make mistakes along the way.

About 12 years ago, the appetite for these type loans grew and then after the passage of Dodd/Frank, an entire industry has grown up around them.

(Although, I've found that only having deadbolts that lock and "passage" doorknobs on exterior doors prevents a lot of that.)

I'm sorry but it's a right of passage just make sure they don't see you are a motivated buyer because they will use your money instead of theirs.The great thing about being a buy and hold buyer is that you can out bid every flipper and in Dallas that works pretty good.I focus my attention in San Antonio and because I do buy and holds I can out bid almost anyone who isn't a retail buyer.