Intervening in financial risk management is dangerous.

So spending thousands on a complex set up is a waste of money until you actually have something of substance.

I used leverage very carefully and always knew that it could be very dangerous.   

Scott, A couple of things here: 1) If this is true, and you will be getting $10M, then you should be cautious - alerting people to an amount of money this large can be dangerous, and you will get advice looking to separate that money from you from very hungry people, who will come off as very polished, but who can really do damage to your wealth.2) If you are coming into $10M all at once, then depending on the source, you will pay taxes on this.

Never invest in any city on this list: Mapped: The Most Dangerous Cities in the U.S.Rent control - Some states and metro areas have implemented various kinds of rent control.

I'm still learning everyday but now I Know enough to be dangerous. lolWhat area are you looking to build in?

@Edward SchenkelI am in California and understand your advice may not pertain here but what are legal danger zones of wholesaling pre-foreclosures that I should watch out for?

Everyone talks about cashing out equity to buy more investments, but they fail to account for the cost of cashing that equity out, and they certainly don't mention the dangers of over-leverageing.It was hard to fail 5-10 years ago because the market conditions were ripe for investing.

They teach their students enough to be dangerous but not enough to do deals on their own so the student 9/10 times brings the deal back to the "guru" to help close it taking most of your deal you worked your tail off for.

Is that a dangerous sign?