It's a bet on the future appreciation, maybe generates enough income in the meantime to pay taxes and insurance, chances are no cash flow. 

I'll take that as a "win" right now for sure.

But when I got my first bill from the attorney for 3000K+ I started to worry about how high legal costs could get even if they buyers dont win.

Like pert near anyone in our bizz you do have bummers each year myself I wholesale them off when i do have to take one over.. or i might sell them on my 0 interest short term owner finance program .. which creates some rock solid paper given the assets usually need a lot of attention at that point.. for the speculation I had 2 long term land plays one paid off after 22 years of owning it for a 100X multiple  yes 100X  :)  And the one i currently have that the new CHIPS act could create a huge win for myself and partners..

Two lessons I have learned: 1) CashFlow is critical and 2) Sometimes it’s good to sell when things are going well- I bet you weren’t considering selling when it was worth $2.7M.  

I bet you are more like 3-4%. 3) Would you take a significant capital gain hit if you sold? 

Each parts of this loop could be broken and get investors stuck, therefore, Flipping is a very high risk, experience and team&networking based game, it is not for everyone, the chances to win the game is low!

I really see Columbus Ohio as an extremely safe bet for the next 10-20 years.

I'll bet the whole town is breathing the stuff.

That’s the best bet.