Figure out how you are going to get OUT of a real estate investment before you get IN.

A memorable line I once read about real estate investment was that could tell the pros by the fact that they were figuring out how they were going to get OUT of a property before they got IN. I would add that the pros also should not agree to balloon payments although many who ought to know better do.

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My most recent book about principal residences is very much about this although I may not have mentioned it per se in the book..

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To get out of a home, you just sell it. The buyer can easily get financing if qualified. But if you are buying land or non-home real estate you probably have to get no financing or balloon-payment financing. And the LENDER will likely be the SELLER. That means when YOU sell, you probably have be the lender, too. Do not buy such properties.

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I DID buy four apartment buildings. I managed to get rid of all four without taking back a mortgage, but it was difficult. I never bought another apartment building.