-We are closing on a primary residence in a couple of weeks that has a cottage on it that we will begin short/mid term renting upon close. 

All good until today, (2 weeks after signing new lease,)  he calls me and says he miscalculated his expenses, thought he could afford it but now he cant ect ect.

Before the purchase we take photos and videos, we have a licensed inspector check the property and provide all of the info to the owners.

I hear similar stories probably about every other week here in Chicago, and I have had some situations happen to me during one of my early-on flips.Whatever you do , NOT take the low guy unless you are 100% certain they can complete the job.  

I am closing it in next 2 weeks.

Learned a lot about the process while property is under contract (coordinating home inspections, appraisals, getting documentation to the lender, etc) I should have locked in my interest rate two weeks ago before they shot up recently!

We have stared the project about a month ago, completely new interior including adding new HVAC all new electrical, flooring, cabinets, tops and so on along with new driveway exterior paint and some siding.My contractor is also an investor, so we were lucky there, good insight to share and also, he has lots of leads for renters.But he is NOT a good photographer LOL. here are some progress pictures .Also, I will like to share that we are closing on one more single-family property early next week and we have a duplex under contract._________________________________________________________________________________________________________________________________________10/12/2024.

It seems I tell all my subs that at least once a week! 

Books, videos, blogs, and podcasts are all viable options but how much time would I need to devote to this and how much conflicting information is out there?

I recently watched a video where an investor bought a mortgage loan at a steep price, with an exit strategy that hinged entirely on getting the borrower to agree to one specific term.