In real estate, as in many other areas of business, one simply can’t jump in without doing the legwork and research. Because there’s so much money at stake, it’s crucial for real estate investors (especially first-time ones) to go through the right procedures–rather than leaping without looking.

With that in mind, understand that this guide is just that: a short, handy explainer to some of the expected (and conversely, unexpected) obstacles that you may encounter in real estate investing. Needless to say, change should be expected: circumstances change, factors like incomes and neighborhood ordinances can be altered, and incomes fluctuate.

Nonetheless, this is a good place to start.