Run your numbers based on youre required return given what youre likely to have to spend and the amount of headache, risk, and work you have to do.

Quote from @Damon Silver: We have a 4/2 attached duplex up and running in an Oregon college town. 

We have VAs that use triple line dialers and Pipedrive to run our CRM. 

This particular project is running late and now of course I'd like to get done faster. 

I was told by another investor that I will run into a seasoning problem, but i don't see how if i don't plan on refinancing.

Yes I have known it to work because the owner is not a push over, enforces policy and can make it run good......however, do you have the right personality to do this, AND if you move out can you continue to have the house run smoothly with no one in charge.  

I've seen many investors get burned because they failed to understand their hard money loan terms/rates, even if they did acquire what should have been a home run deal. 

I noticed the market was shifting, so didn't run to get under contract until day 43 of the identification period.

That's exactly what I'm trying to wrap my head around.

What are the largest pitfalls one may run into that turn this from a 150 to 350 ordeal?