First hard money loan fears??

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hello all

Can anybody share if they had newbie fears about their first hml.   If so, how in the world did you get over it.  Say you buy an reo to flip and get into trouble with the budget, could an exit strategy be to list the property partially remodeled at a somewhat retail price to save yourself?   I'll be attending the general meeting next month( Long Island real estate investor association) .....if anybody is located in New York.