Lastly, how does one protect oneself legally in this situation as an investor?

So in sum, none of this is to imply really that one can "will" oneself into a winning investment where the numbers simply indicate it's a failure.

What I should add is I have 2 other duplexes where I live in one unit in one. Self

Better off waiting tables one shift a month than spending 20% down to buy oneself a sub minimum wage job.

What are some effective methods to familiarize oneself with the market of an area?

Your post reminds me of my days posting in poker forums where very often the answer can be an introspective look at oneself and his or her mindset.When someone calls you on the phone in response to your mailing, they're interested / the letter served its function.

Unfortunately this is a investment in oneself.

I'm attempting my first renovating buy-and-hold, I'd like one solid flip a year (I know, just one??), self

Being able to be honest with oneself is a big component of it.

The IDFPR may “refuse to issue or renew a license, may place on probation, suspend, or revoke any license, reprimand, or take any other disciplinary or non-disciplinary action as the Department may deem proper or impose a fine not to exceed $25,000 upon any licensee under this Act . . . for any one or combination of” the grounds for discipline set forth in §20-20 of the Act, 225 ILCS 454/20-20.Additionally, a licensee may be subject to both civil penalties and criminal liability for the unlicensed practice of real estate brokerage: Any person who practices, offers to practice, attempts to practice, or holds oneself out to practice as a real estate broker, real estate salesperson, or leasing agent without being licensed under this Act shall, in addition to any other penalty provided by law, pay a civil penalty to the Department in an amount not to exceed $25,000 for each offense as determined by the Department. 225 ILCS 454/20-10(a).