Optimistic energetic relentless on the lookout for deals.

Their marketed numbers were WAY too optimistic/basically were a lie.

I know from start we all felt may be a little to optimistic with build cost and selling points. 

People who buy lower class properties tend to get a false sense of security like those in a bad marriage that “oh it will get better”, typically it does not and they are overly optimistic.$25,000 reserves for 10+ properties is a recipe for disaster, especially in Lower income areas.

Perhaps it’s proximity bias, but I think posts like these are very helpful to give perspective to new optimistic investors.

In my area the margins on flips are shrinking but the volume of would be flippers is increasing, this is simply because the overly optimistic investor isn't requiring an appropriate risk premium, this drives out a lot of the "smart money" and pushes them into more sophisticated, complex, and less inundated areas of RE in which margins are still suitably fat.The last thing ill mention is that a lot of the high debt/leverage people are on this thread defending their positions.  

With dedication, perseverance, and the lessons learned from experienced professionals like yourself, I am optimistic about the possibilities.Thank you for your guidance and for taking the time to offer your wisdom.

If you're penciling it on, on your buy that's a bit optimistic and you'll have to likely understand your house value would then appreciate re-creating a re-finance loan with a new & higher tax basis and insurance which would likely not make it as affordable as you are penciling in.My best advice is to look to buy a value-add, something on the MLS for longer days or off-market.

So far we are cash flowing and I am optimistic that the market is going in a good directionLessons learned?

@Scott Trench I think human nature makes it is easier for people to be more pessimistic than optimistic (survival bias).