The best lessons that I've learned thus far have been through trial and error.

Hello, I am rookie investor.

Myself and my partner Scott are Rookie REIs in the Dartmouth area looking to connect with like-minded investors.

Looking to get as much information before going out and making a rookie mistakeThanks in advance,Anthony 

This bring me to another issue, people always complain about contractors, yet NEVER admit to the errors of their ways.

sorry about the spelling errors in my original question, my cell has a mind of its own.

Congrats Jodi,Sounds like you got a deal and times it right Hillary ,I’ve been listening ok’ing at flood deals for a while now , from the deals that came my way the wholesalers are looking for 60-50% of the ARV , that doesn’t leave you much room for error , market correction or stigma of a flood home even in a good area .Take off 10% for commissions, legal  & closing on sale , you are looking at best a 12/20% return on investment .Now imagine if the mold situation comes or contractor goes over budget , you may be stuck holding a wet bag If your plan is a rental than at least you have a plan B in place For the best upside of 20% I’d stay clear Of course if you can purchase at 35/45 From ARV that may be worth considering IMO the Flooded homes are going to be in the market for a while - based on the fact many owners are just hanging on and not paying mortgages .

I just tried to post this discussion and got a "subject is too short" error. 

error

If you think you can only get $200/month extra from the rent... that's not a lot of room for error, should something go wrong or get broken and needs replacement.