A Common Investing Mistake...

Let's start with the first common investing mistake -- not understanding local market realities.

Not every property in every city is going to make money for you even if people are buying them for pennies on the dollar. Not every deal is a good deal. Pay attention to where the markets are going to continue to be better or continue to improve as opposed to continue to have problems.

When investing outside of your own local area, is it important to work with professionals you can trust to have your best interest at heart.

There is a difference between price and cost. The price can be right but the cost can be huge. There is a reason the price is right and it's because the property doesn't make any money.

If you can't find someone in another market who you can trust and you can rely on, then don't buy there unless you can go visit it for yourself. Know your market. Know where the good neighborhoods are. Drive through in the daytime and then drive through about ten o'clock at night. Take a look and see how it looks then. See what comes out from under the rocks and if you don't like the looks of what comes out, you don't want to buy there because it's going to be nothing but trouble. Know where the things are going to be improving, where they're going to build new shopping centers, freeway interchanges, new convention centers, hotels, etc. Find out the areas that are trending and capitalize on that.

Caution: Laptops May Result in Skin Burns...

A medical report says people who work with computers on their laps for long periods could suffer from "toasted skin syndrome."

In one case, a 12-year-old boy developed a sponge-patterned skin discoloration on his left thigh after playing computer games a few hours every day for several months. Ew.

The danger has been highlighted by Swiss researchers in an article Monday in the journal Pediatrics.

The condition is generally harmless but can cause permanent skin darkening. In very rare cases, it can cause damage leading to skin cancers.

They do not cite any skin cancer cases linked to laptop use, but suggest placing a carrying case or other heat shield under the computer. Or perhaps you can just wear some kevlar pants...