The lessons you learned the hard way in 2008 will be invaluable now, and it’s great that you’re aiming to stay small-scale and within your comfort zone of Sacramento, which gives you an advantage of knowledge in that market.Given your experience, I'd say start by focusing on three key areas to build confidence and minimize risks:Budget Control: Over-renovating was one of the big mistakes you mentioned.

Learning a lesson for all of us!

This is a lesson learned for me - I know to look for "missing" rooms for this now but I do feel that there was responsibility on your part as well.

For example college rentals generate some of the highest ROI of properties I come across in New Jersey but it depends on the school and location of property.

Great work and valuable lessons learned!

Lessons learned?

Lessons learned?

Originally posted by @Kyle Atans:Originally posted by @Anthony Dooley:@Kyle Atans I don't need a math lesson.

However, your lesson is get more personally involved.  

Looking back on your earlier projects, what were the biggest mistakes or lessons learned in securing funding or managing build costs?