My mother originally agreed for me to refi some money out of the equity of a house we co own but then she changed my mind after I signed the contract on the guesthouse.  

The truth is, fix-and-flip investing is an incredibly rewarding endeavor, but fully lined up with pitfalls that can easily turn your dream deal into a financial disaster.So, let's break it down:The Good: Why Fix and Flip Can be a GoldmineHigh Profit Potential: If done correctly, flipping can yield 20-50% returns-or more-in a few months.

Any particular style of house that interests you?

Quote from @Joe Gellenbeck: Hi All,I am new to this community and real estate investing in general, but I'm excited to jump in.

Especially as the state cries for more housing.

I am also self-employed and have a good amount of time to work on this.Now I need a house.

I am located in Western AustraliaI have been exploring small multi-family properties and flipping houses.

We rarely have issues, but it seems like such a small investment in time and money to take one day to verify. 

Investment Info:Small multi-family (2-4 units) other investment in Martins Ferry.

For context, I'm from Edmonton, and have been in investing in Alberta for last 11 years, and in Texas the last 1.5 years.