I will do that so I'm not blindsided by my ignorance.

In the rush at the end to get this done, and not being presented with any different quote than the one previously given, it didn't occur to me to think something like this could happen - until it was hours before closing, I felt blindsided and thought maybe I'd missed something, and .... history.Brokers I've worked with in past, conventional, were paid by the lender.  

Also i was musing on another thread that this go around is not like 08 09 were many/ to most of us myself included were blindsided by how bad it was.. there where only a few Michael Burreys out there. so in my mind investors will pull the switch sooner on perceived  values than just sit for a few years to let it tumble low it will not get that low again unless credit freezes again then all bets are off.  

I would also hate to put effort into research, taking out a small loan, etc. only to get blindsided.

Most new investors are totally blind sided by how hard it is to get sober contractors to working in their small rental homes & things of that nature.

Just curious as I feel that I need more in reserves in case of an emergency or blindside, and therefore, is why I am looking to partner up with somebody.

@Robert Leonard, I was actually planning on setting aside most of the rent so I won't be blindsided by something random.

There are surprisingly plenty of folks out there with the cash and if you explain the process/goal beforehand, they'll be much more receptive to jump into a situation like this than if your first contact is to blindside them with a deal and you need their funds ASAP. 

And when Dad's expectations are not met, Dad bears the anguish while Jr. continues to do his own thing.If it were me, I'd either buy the place, and let him live there rent free, maintenance free, and let him pick the co-renters who pay rent, and anticipate some months short rent too so as not to be blindsided by his friends not having it and letting it cause anguish.Or, to avoid the anguish as much as possible, rent it to others and have him stay in student housing on campus.

Were you cautious with acquiring properties back then, or did it blind side you?