I then realized in a few months that 1-40 unit deals had horrible pricing because all the amateurs were involved and the ones that looked good from a per unit price prospective were under 80% occupied and had ISSUES.

Or do you want to keep being an amateur?

Attorneys (want your money), YouTube gurus (want your eyes), and amateurs (don't know any better) will all insist you set up an LLC for asset protection.The truth is, you don't need it.

Money part is one thing, but what puzzles me- is  inspite of soo many people, professionals, amateurs and all in between, BP (or any other community outside) has not really helped me with some of my specific questions about RE business.

Amateur (free) Pro ($15) Guru ($10,000) ..must be auto debit from 401k or savings to qualify.

Disclaimer: Amateur investor opinion here. 

Amateurs talk while the pros make money. 

Thanks in advance to everyone, and hope these questions aren't horribly amateur.

and if this lady would have got with some one else to sell the lot early on ( she was going to get foreclosed out in a matter of 10 days or so) she probably could have gotten 230 to 250k for it from a builder.. but it was amateur hour and these guys in the middle were just trying to make too much and they backed themselves in a corner. but there was NO WAY no how I was going to buy that and be a party to someone ripping 100% profit from this lady.. its just not the right thing to do morally in my mind.. 

I’ve made similar mistakes, all because I was an amateur acting like a seasoned pro.