I didn't get too far and only ate the appraisal cost. 

Just ate up a seller financed lender for wrongful foreclosure.

I ended up with a small ATE prototype designer called Symtx and was laid off during the mortgage meltdown.We have since started several companies related to the real estate industry and enjoy helping a small set of folks learn to invest.

On top of that, Justin pointed out that those with the incorrect answers were mixing the numerator and denominator which is a silly mistake.SO I ate crow and posted so on Nick's Facebook page and am now doing so here (as embarrassing as it is).

It was great there for a bit but so many people came in and ate up the inventory, prices soared and now you would be lucky to find much where the numbers work out.

That along with various fines that existed before I took over ate through a lot of my capital that I had allocated.

What state ate you located in?

In the past I have also bought about a dozen non-performing notes but that didn't go so well for me as my margins ended up being too thin and ran into problems along the way that ate into my profits.  

For the second, we bought it with a conventional loan and had to replace the HVAC this past year which ate into a lot of the cash flow..

As a newbie, this basically ate up all of my reserves and was a pretty stressful time.