individuals in my area that have similar beliefs and goals as me, who also have a little more experience with houses so a lot of the stupid mistakes can be eliminated from here on out (hopefully).

My belief is long term wealth is built in buy and holds.

Instead, one must be respected and effective in business to achieve lasting success.Relationships develop after years of effective business dealings, not the other way around, as popular belief holds.

@Aly W.This tenant pays religiously around the 4th or 5th of every month.

They are also of the belief that automobiles are a waste of money and drive conservative, used cars. 20 years earlier they bought a large home in a preferred area of town so their children could go to the best schools.

It could have religious undertones.

I'm firmly of the belief that to get good at anything, you have to practice.  

Having flipped since 2004 in this market, I held the belief that the General Contractors were the problem.

Make sure you approve of the plan (and that there is one).There are many other considerations such as: your risk tolerance, your belief in when the market will turn (it's never an IF, always a WHEN), do you have the time/knowledge to deal with a failed deal?

Contrary to popular belief, market forces should keep me in check because if I have screwed up on my comparables or rehab estimate, other investors will not buy the property and I stand to lose both my reputation and EMD in the deal.