He has found that many times potential investors have misconceptions about what is required.

What is one thing you wish you had known when you first started out, what would you advise to look for, and what are some common mistakes and misconceptions you see a lot in newbies?

That's a very common misconception. 

The biggest misconception in real estate investing and flipping is that you can somehow save on construction costs, or do something cheaper.

@Lynn Ramdin this is a very common misconception that is unfortunately propagated on this site. 

Thank you @Jon Holdman and @Mindy JensenI really appreciate everybody's input on this.There's a misconception in this thread that this is my decision.

I am seeing a couple or so each week at this time.One misconception I often hear from would be passives is that membership gets you into deals; NO!!! 

This is a common misconception. 

Next, there is a common misconception that the SBA will finance projects or businesses that are very risky and considered not fundable by traditional lenders because the government can afford to lose money.

The report used U.S. census data and a Zillow survey of more than 13,000 home buyers, sellers, owners and renters.Of millennial buyers who moved in the last year, 64 percent stayed in the same city and just 7 percent moved to a different state, the Zillow study said.The Harvard study by its Joint Center for Housing Studies – which used data from the census and the Department of Housing and Urban Development as well as its own analysis – found most stereotypes associated with millennial homebuyers were not true.It said among the misconceptions were that millennials want to live in urban locations closer to employment, commercial and social centers; prefer the flexibility of renting; and are unwilling to take on the financial risks of ownership in the wake of the housing market collapse."