I enjoy the occasional gamble but at my current experience level and net worth I'll reserve that for the dime slots so to speak.Rick Pozos Agreed completely.

So, like playing a slot machine, you can either get lucky with just a few properties and have much lower expenses or you can be unlucky and have much higher expenses.But if you own a bunch of properties then it will all average out.

Yes, get the bargain but don't be a shark and don't sound like a shark.

I caution though with money on the table sharks come out....

Put shelving in the showers to hold shampoos, soaps and razors(Command) makes great shelving for these accessories(Command Shower Water-Resistant, Clear Frosted, 1 Caddy, 4 Strips (BATH11-ES), 4.8 x 11.3 x 6", https://www.amazon.com/dp/B00H... ), makeup mirrors. supply in the kitchen anything that you would use in your own home. 

Shark or guppie, you decide.This isnt rocket science, find a house that cash flows nearby if its possible and buy it, if you need more money for a down payment, save up, get a higher paying job, borrow from family.

That leaves me to believe that margins are razor thin almost everywhere. 

Work with an agent until your an expert.Certainly entitle to your opinion, however, mine would be to say that if you didn't know how to make an offer on an investment property without your agent, perhaps you should have become more educated first before jumping into shark infested waters.

The deposit was refundable and demand high for his slot, so he would wait until building was almost complete, all competing lots had been sold, and then would sell his housing deposit to another home buyer for a substantial profit.

Howeverthanks for sharing your story and making others aware of sharks lurking in this space. we all make mistakes and learn from it, events like this makes us wise.