Not too many success stories posted here. What about probs?

What kind of problems have you had?
What would you do differently?
What common mistake do newbies make?
What would you advice a tnewbie to avoid or be sure they do?
Question

First advice would be look here and see how few success stories there are Wink

Oh and never ever ever do a sandwich lease option.

ever.

really. Ever. I mean it.

Have an exit strategy, and a backup exit strategy if that first one falls through.
Beware advice from anyone trying to sell you something. Beware "partial truths". You can get filthy stinking rich in real estate Smile

This IS a truth, but it's one that MOST LIKELY will bite you.

Tenants WONT behave better for you because you 'treat them better than those other landlords'.
Buyers are liars.
Trust everyone but do due diligence.
Advice from people who are far outside your economic bracket in either direction is probably invalid for you. If sayings like "It's just a few measly thousand dollars" make you cringe (they do me), then their perspective is irrelevant to your position.

Learn the tax laws as the apply to you and your corporation. Then hire somebody who knows more to actually deal with them.
Build a mastermind group of likeminded people who actually care whether you make it or not, NOT just a bunch of business associates whose only concern is what you can do for them.

Be honest in your dealings with people, despite what you may gain in the short run. Nobody takes any of it with them.

Don't get discouraged...scratch that. Just don't STAY discouraged. Somebody's gotta win. Smile