I made every mistake in the book on my first property. Here's what would've saved me thousands:

1. The 1% rule is a filter, not a guarantee.

If monthly rent isn't close to 1% of the purchase price, move on. But even if it passes, you still need to run full numbers — taxes, insurance, vacancy, and maintenance add up faster than you think.

2. Your first deal doesn't need to be perfect.

Analysis paralysis kills more aspiring investors than bad deals do. A decent deal you close on beats the perfect deal you never find. The education alone is worth it.

3. House hacking is the cheat code.

Buy a duplex with an FHA loan (3.5% down). Live in one unit, rent the other. Your tenant pays most of your mortgage. After a year, move out and rent both. Repeat. This is how most successful investors started with limited capital.

4. Always budget for vacancy and repairs.

New investors love to calculate cash flow assuming 100% occupancy and zero maintenance. That's not real life. Budget 5-8% for vacancy and 10% for maintenance/CapEx. If the deal still works with those numbers, it's a real deal.

5. The deal is in the buying, not the selling.

You make money when you buy right. Overpay, and no amount of good management will save you. Negotiate hard, walk away from bad deals, and remember: there's always another property.

If you're getting started and want a community of investors who've been through it — we're building that at LandHub. Courses, weekly tips, and people who actually answer your questions.