You should have money set aside for litigation.

Co-living also takes quite a bit of money to create more baths, walls, different electrical hookups, etc.

We utilized the down payment program and use our own money to fix it up.

Quote from @Jaikevis Reams: In order to put a property under contract I need to provide proof of funds I know that I can get that from a hard money lender but I don’t meet there criteria for a loan approval what should I do? 

Tenants save money when using a shared meter, so there's plenty of room for error when calculating how to distribute the charges.

Our cash on cash return is essentially infinite as we make money on the delta between the yield of the discounted note that we purchase and the interest rate we pay to our passive private capital partners. 

They loved it because they got some play money right away and steady income each month without having to deal with toilets and tenants.

The era of "everything prints money on Airbnb" is LONG GONE! 

It is very easy to save money working in public accounting.I forgot what my dinner allowance was working at the big four 5 years ago in a major city(I think it was like $20?)

Mistakes I see people make is they plan on living there a short time and over renovate the property where they will never get the money they put into it back.