Probably my first mistake right there..

I heard it better explained that it is a mistake to diversify simply for the purpose of diversifying.

Turnover 4: Kitchen rehab (Time vacant: 8 weeks)The mistake I made here was not look at the unit until after the tenants moved out.

I been trying to do real estate investing but those two financial mistakes that I made when I was young are costing me to not be able to do investing I’ve tried alternative options like hard money lending and business loans but ultimately don’t go trough with the process for various reasons.

Hi @Michael Clay,There are definitely different schools of thought on your approach, but even if you think it might have been a mistake, sometimes we can get away with mistakes :)  If you left a bottle of liquor for a recovering alcoholic, this could have gone south pretty quickly, but it worked out and to your benefit. 

Rather, just buying time and hoping that:the landlord does not pursue eviction aggressivelythe landlord will make mistakes in the processattorneys cost money that the landlord does not to spendthe courts are backlogged with casesthe tenant himself/herself will be able to cause delays in the processeven after eviction and judgement, collection will be very difficult if possible

Just a mistake of rent being undervalued by $50.00 can kill your ROI.

In landlording, strive to make each mistake only once. ;)  If it's a term lease you will have to wait for renewal, or ask them to sign an addendum, but they are not required to and most likely won't.   

I made the mistake of using a realtor for finding a tenant, which will cost me $3,600, or $300 per month over the 12-month lease.

They only had to do it, and all the mistakes...and the cost of those mistakes, would fly away...and they would be left with the same expertise they could have gotten (but had to pay for) from formal training and/or a mentor.Wait, they had to pay for it (in other ways) doing self taught anyway...and they only ended up knowing what they know...and not knowing what they didn't know...that would have come from the formal training.Oh well.