Novice flippers can underestimate the time or money required and overestimate their skills and knowledge.Flipping houses is a business like any other: It requires knowledge, planning, and savvy to be successful.Common mistakes novice real estate investors make are underestimating the time or money the project will require.Another error house flippers make is overestimating their skills and knowledge.Patience and good judgment are especially important in a timing-based business like real estate investing.Good Luck!

I am still a novice and wondering is it better to get hard money instead of throwing my own money.

A lot of lucky, novice operators have returned great profits to investors in the last decade.

Being relative novices for a project like this, it was also helpful having a couple trusted sources walk the land with us and give their opinions.

I was wondering if this kind of investing is good for a novice or not?

REI can be intimidating, especially to a novice/newbie like myself.

As a result, novice investors can capture monthly cash flow without a larger financial commitment and decrease their initial risk.The second question is: which type of investment property are you looking for: short-term, medium-term, or long-term rental?

Easier buyer market is very important for a beginner buyer like me, though I realize that US is much more difficult option personaly (employment uncertentainty; obtaining work visa; getting mortgage while Canadian credit score is not accepted and having no US credit score yet; at-will employement; healh care; moving car and property across continent…and many more).After reading all comments, buying a house and renting out a part of it seems to be the best first step for a novice.

So, whenever the cap rate is so low, they're definitely making their $$$$  from the selling.Now, if you're an out of state or a novice investor and anything goes wrong (and it will) at these low cap rates, your chances to make money bidding on football in Las Vegas are better.       

@Wayne Brooks - Provided extra special help with Florida data when I pursuing a possible tax lien strategy last year Other Tax lien people who have enriched my knowledge include experienced and novices in tax liens.