I was one of the fortunate ones that was able to get out of the contract and after all expenses (forfeited deposit, legal fees, holding costs, etc) lost less than $20k.  

For example, I have a main account that is for my holding company, sub-accounts for each property, and sub-sub accounts for security deposits and things like CapEx for each property.

I told them they could stay there at no charge till the bank evicted them and made them sign a hold harmless.

I'm wholesaling and looking for seller financing deals to hold as rentals.

The only time I'd say it's an okay idea is if either: The area you're investing in is expecting so much appreciation that you will easily profit off that (watch out for mortgage interest though...the appreciation needs to be higher than what you pay in that and expenses to make it profitable)You have some specific reason for wanting to do it- family ties, future home, major long-term hold, etc.Maybe I'm forgetting another one, but those two are all I have for now...

Repeated infractions would make any form of insurance expensive, if even available.

A good deal won’t matter if your contractor delays the timeline, eating into profits through holding costs.

I would not purchase MLS RE in San Diego as this time without value adds unless I was going to hold it at least 10 years. 

Furniture that is sturdy and holds up is important. 

What started as a promising BRRRR ended with us making the tough decision to sell at a loss after an unexpected disaster.The Numbers:Sold for: +$230KPurchase Price: $115KClosing Costs: $3KRehab Costs: $105K ($49K original rehab, $56K additional repairs due to the car crash)Holding Costs: $31K (12 months)Selling Costs: $16KInsurance Claim Recovery: +$25KNet Income: - $16KWhat Happened:This was supposed to be a BRRRR.