Educated only to the point of being dangerous, lacking in experience and technical information and they refuse to recognize advice contrary to their beliefs. 

There are many land mines the u informed or inexperience could step on.  

Ideally, an amateur should be able to mask his inexperience by exuding confidence and becoming educated on how to carry out the transaction.

New roof, new furnace, new water heater...you still come out ahead in cash and way ahead in experience.  

@David Dachtera  I would not call BofA or wells fargo uneducated lenders.. they are forced into lending in areas they would probably red line if they could.on the fix and flip again your coming form a position of inexperience as a lender.. it  all sounds good in theory.

@Chris AdamsYou've shown that there's value in experience and having a good reputation. 

Decades in experience has taught me the more complicated something is the less likely it is to work and the higher chances things go wrong.It is easy to theorize complex situations and make them sound simple.

@Tj Hines Often times any deficits in experience and be overcome with cash.  

We started in real estate a couple of years ago and due to our inexperience we decided on an ultra conservative strategy in the form of all cash purchases.

I have seen some interesting places in my search though, places that seem to have "Good bones" but need a lot of work, and honestly because of my inexperience, I have decided FOR NOW they aren't for me- but I'd like to learn more about major rehab work for the future. 1.