Your input can help other investors avoid pitfalls and better prepare for common issues, especially with tougher inspection requirements and varying neighborhood dynamics.What’s been your experience?

After managing rentals for a while, I’ve noticed a few common pitfalls that can cost landlords time, money, and peace of mind.

Common fees will include a set-up fee, a leasing fee for each turnover or a lease renewal fee, marking up maintenance, retaining late fees, and more.

Tenants should definitely not use common areas to store stuff or use the common area electrical.Document everything via email about notices, and just do everything politely and with respect.

Learning as you go while planning to reinvest profits is a smart and sustainable strategy.This community is a great place to sharpen your skills, avoid common pitfalls, and connect with others who’ve walked the same path.

Who’s had success with wraparound mortgages, and what pitfalls should others avoid?

Any pitfalls with financing or due diligence I should watch out for?

You would only seek more quotes if the price or diagnosis seems out of line.I would advise that you try self-managing for a year to understand how PM really works and what pitfalls there.

That way, you get a solid education while protecting yourself from the common pitfalls most of us learned the hard way.

The most common test used is the 100 hours and more than anyone else test.For example, if you acquired a $500,000 STR after January 19th, 2025, you could accelerate $100,000 of losses with the help of a cost segregation study.