The key is to screen properly, collect a deposit commensurate with the level of risk a particular tenant presents, and have tight processes in place to stop problems early.

Familiarize yourself with the process first and then determine if you're available to that commitment.

I've also considered looking into becoming a private lender but I feel I should experience the RE game myself before I start lending money out to others.I've been researching heavily, pounding through 1-2 podcasts a day and am in the process of finding a lawyer, accountant, agent and any other people I may need in my RE journey.

So I started a eviction process which is fairly easy and got her out in 3month, basically killing any profits I made but the experience was well worth it.

@Angela Yan the process for a 2 unit building was about 4 months a few years ago. 

We currently have our eye on a tear down sitting on less than about 7,000 square feet of waterfront land.I'm curious if anyone has experience with the shoreline certification process and pulling permits to build waterfront.

It's been a learning process, but I've enjoyed every bit of it. 

Obviously, this is not a DIY process.

Also, nothing is stopping you from doing the market research before you get into the 1031 process!

**Also does anyone have more info for the pre-approval process for MFH?