KEY TAKEAWAYS1. Plan, prepare and have a positive outlook on your deal.2. One of the biggest pitfalls is not knowing or believing that it takes a team to be successful. 3. It is important to have an attorney that you have a great relationship with because most of the time it will be a long term one. Lineup your team before you start the deal.4. Ask what type of person you are and what kind of communication you want from your attorney. 5. Trust your gut and go with an attorney that you feel is the right fit. Remember, you're there to CLOSE and help your passive investors. 6.  Never do a deal with a handshake, it ALWAYS has to be in writing. 7. The rules and laws are not different for your family and friends. Make sure you treat them as a client. 8. If you don't have the private placement memorandum then you're at risk of being sued by either the government or clients. 9. Do the right thing all the time and avoid burning bridges... because the investing circle is small and it could come back to haunt you in future deals. 10. As a sponsor or operator it's very wise, and worth the money, to get insurance. This is something that lots of people don't do but it will help and protect you massively should anyone want to come after you in or after a deal.11. Even though we're in uncertain times... it's certain that real estate is still the best way to invest. It's a good time right now to hold property and wait for the improvements to come.  BOOKSThe Passive Investing Playbook - https://theinvestormindset.com/passive LINKSJoin the MultiFamilyMBA and get exclusive free training: https://theinvestormindset.com/mfmbaLearn more about investing with Steven at https://theinvestormindset.com/invest Linkedin: https://www.linkedin.com/in/dugan-kelley-0019b435/Web: www.kelleyclarkelaw.comInstagram: https://www.instagram.com/dugakel/?hl=enFB: https://www.facebook.com/dugan.kelley