Some people seem to get locked in to one place they find, or a place a friend or family member is selling without really evaluating the available market.In a small town in East Texas I would think your biggest risk is a big player coming to town that can absolutely crush a smaller player. 

Vacancy hurts a bit more, but the biggest issue with renting out large homes is turnover cost.

My biggest rule it to pay off the heloc as soon as possible because the rate is variable and its much safer to be in a locked in mortgage.

I thought it would be fun to start a thread where we can share our craziest fix-and-flip stories, biggest "oops" moments, and the golden nuggets of wisdom we've picked up along the way.

What are the biggest challenges people have faced with this.

This is one of the biggest insulation issues second only to the attic.

Definitely agree with Doug, telling the truth and being transparent is one of the biggest advantages that you can have as a wholesaler.

It’s mentally tasking, which is my biggest battle now.

I think the 2 biggest hurdles are finding the right team to do the work, given you won't be there to monitor it 1st hand.

My biggest advice I have for new landlords self-managing is know the laws and have a beefy lease.