I made a lot of mistakes for a new investor.

DA 20-25k profit at that price point is good for your first flip with any mistakes and overages.

But because he did poor in RE investing (with virtually every mistake possible), RE investing is not worth it. 

The 4 guests smoked marijuana in the house (strong smell), broke a window blind and a picture, put a hole in the bathroom wall, chipped an end table and worst of all vomited on the couch and front porch.

One of the most common mistakes beginners make is jumping into large rehab projects without having a solid team or boots on the ground. 

After looking at your post, I realized it's probably necessary to have a dedicated real estate attorney handle this issue for me since it's serious and I might make a mistake big enough that probably will cost me too much money to fix.

But I know several people who made this mistake even after I warned them including someone who dumped 3M into a fund that promised to pay 10% return. 

We had a bumpy start in real estate and came out of it but would love to share all our mistakes so everyone else can have an easier road to investing.hope to talk to you soon! 

It sounds like the biggest fear is getting funding and getting started without making a big mistake.

Mistakes and miscommunication cost people money.I did ask him to explain his transaction,  not an uncommon request, but he has failed to answer it."