One important skill to develop as a real estate investor is the process of due diligence.
Due diligence is the in-depth research you will do on a property you’ve contracted to buy. Your purchase-and-sale agreement should provide for a period of time to study the property to determine if it makes sense to move forward to closing. Terms can vary from market to market and property to property, but generally speaking, most sellers will agree to provide a purchaser with 30 days to 60 days to go through the due-diligence process at no charge.