The 7 Biggest Landlord Mistakes (That Are Costing You Money Right Now)

Recording from their sickbed in Mexico after experiencing building-shaking waves from Hurricane Priscilla, Erin Spradlin and James Carlson power through to deliver critical advice: the seven biggest mistakes landlords make. They tackle everything from skipping background checks to overpricing rentals, with trademark honesty about what actually matters versus landlord paranoia.

🚫 The 7 Deadly Landlord Sins
1. Not knowing the laws - Federal, state, city, and HOA rules change frequently, especially around affordable housing. Colorado now requires Denver rental licenses. This is Erin's #1 mistake to avoid.
2. Skipping tenant screening - Credit checks matter more than background checks. Some landlords rely on "vibes" alone—risky business.
3. Wrong lease for your state - Don't fear customizing leases with plain language about what matters to you, as long as you don't violate tenant rights.
4. Underpricing rent - Erin disagrees this is a problem. Overpricing is the real sin—vacancy costs dwarf any underpricing loss. Properties stigmatized by sitting too long never recover.
5. Delaying maintenance - Annoying and expensive, but less annoying and expensive than doing it later.
6. Over-encouraging tenant reports - Don't invite problems. Set expectations upfront with a well-maintained property instead of constantly checking in.
🏠 The Bonus Mistake
Expecting tenants to live by your standards. If they're messy but not damaging property, that's their right. It's about compatibility, not control.

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📧 Contact Information:
erin@erinspradlin.com for midterm rental consulting and Hold My Hand mentor packages
james@jamescarlsonre.com for Colorado real estate

Lazy Landlording: The Simple System for Managing Rentals Without the Headaches

Erin Spradlin and James Carlson explore "lazy landlording"—smart systems that make property management effortless using one metric: your daily rate.

💰 The Day Rate Formula Monthly mortgage ÷ 30 days = your decision metric. Average US mortgage ($2,715) = $90/day. A 5% discount on one month? That's $135 or 1.5 days vacancy—take it. Six-month lease at 5% off? Nine-day discount equivalent. Make financially smart decisions based on market reality, not stubborn pricing.

🏠 Systems Over Stubbornness Prevent tenant issues upfront: warn about quirks, replace stained furniture, set expectations. Focus on location, bedrooms, professional photos, major platforms—not smart refrigerators.

📊 YouTube vs. Real Estate: The Parallel Trap James reflects on his YouTube course experience, noting the disconnect between optimizing for virality versus trust—mirroring real estate's cash flow vs. appreciation divide. Both industries suffer from snake oil salesmen creating optimization paralysis with endless checklists. The key insight: posting consistently matters more than perfect thumbnails, just like getting properties listed matters more than smart appliances.

Perfect for:

• Accidental landlords juggling unexpected properties or second mortgages
• Property owners paralyzed by pricing and negotiation decisions
• Anyone tired of overcomplicated real estate "guru" advice
• Landlords looking to reduce tenant conflicts through better systems
• Investors who want 4-5 doors for diversification, not 100+ for empire-building

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📧 Contact Information:
erin@erinspradlin.com for midterm rental consulting
james@jamescarlsonre.com for Colorado real estate

In this episode of the Real Estate Education Podcast, Erin Spradlin and James Carlson dive into a critical warning for real estate investors: AI is dangerously unreliable for investment advice. James shares his experiment testing ChatGPT's Colorado Airbnb market knowledge, revealing that over 50% of recommendations were completely illegal—including cities that banned STRs entirely.

🤖 The ChatGPT Airbnb Disaster James asked ChatGPT multiple ways to identify the best Colorado Airbnb markets. Results were alarming: ChatGPT recommended Denver (banned investment STRs since 2017), Boulder (primary residence only), Colorado Springs (density requirements eliminate most areas), Pagosa Springs (requires 2-year ownership wait), and Estes Park (at capacity limits). Most egregiously, it recommended Woodland Park despite the city banning all Airbnbs two years ago. ChatGPT is a data aggregator relying on outdated internet information, not an investment oracle.

🔍 AI's Declining Reliability Both hosts notice ChatGPT-5 performing worse than ChatGPT-4. Erin's AI missed recent bonus depreciation tax changes, while James found AI defaults to common but outdated advice (RICE method for injuries) over current best practices. AI prioritizes frequently found information over accuracy, creating dangerous blind spots for investors.

🎰 Poker Psychology Bonus The hosts reflect on lessons from James's recent poker success, including the importance of committing fully to bluffs and how alcohol affects risk tolerance—though they question whether these translate to real estate investing wisdom.

🎧 Subscribe for honest real estate insight that keeps you from costly AI-driven mistakes
📧 Contact Information:
erin@erinspradlin.com for midterm rental consulting
james@jamescarlsonre.com for Colorado real estate

Perfect for:

• STR investors using AI for market research and investment advice
• Anyone relying on ChatGPT for complex regulatory or legal information
• Real estate professionals needing to understand AI limitations with clients
• Investors learning the importance of ground-truth verification for AI recommendations
• People curious about the declining reliability of newer AI models

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