First time home buyers are very easily scared, people that have experience with owning a house are more accepting of issues and realize that things can be fixed.

Update: I was able to have a couple meetings with the assessor and after my second meeting where I displayed 3 years of inspections, appraisals and contractor receipts she realized I was gathering evidence for a case and she became more willing to work with me.

Only then, I realize that my cash flow can easily replace my salary. 

When will people realize this is not investing?  

The more I read these posts the more I realize how valuable a good PM is...

Feel free to DM me.EDIT: Sorry I just realized this is 3 years old!

These newbies don’t realize the reason many got in trouble 15 years ago was 100% financing and real estate prices dropped and these loans were to unqualified peopleBasically this is the same thing as these people are not qualified to own a home but paid $10k on some course that most likely sells a lifestyle and some fairytale scenario that occurs once in a blue moon.

But realize that there's time involved to prepare plans for city submittal - that can be anywhere from an hour to a couple of days, depending on the complexity of the project.I usually eat the cost of contractor licensing for retail clients, but I might pass it on to an investor client.

WA does not require it and I have seen quite a few WA lenders not realize they needed a license and get in trouble in OR. 

Luckily most of them are locked in fixed rate loans which gives both the syndicator and investor more leeway and time. one thing that investor many times do not realize is that the biggest risk for any risk is market risk, when buying in market where default cap rate is 3% and interest rate near zero, your upside is very limited even when rate is stable.