Another tenant had some mental issues. 

I’ve always had the “can’t fail” mentality.

Brokerage firms have developed structured processes to encourage this mentality and force agents to compete with each other.

That's strictly a cashflow mentality since he seldom assumed appreciation.Colorado is experiencing major appreciation, so you could lower your payback standards since your profits would come from appreciation.Finishing the basement: Assuming $15,000 to get an extra $250/month, that's a payback of 60 months or 5 years.

I do a Mental Rehearsal before starting a project.What do I do if X should happen?

Also, if you're reading a good book and it mentions a U.S. law, or custom, maybe just make a mental note that it may be different near you....then ask other investors what their thoughts are....The networking will do more for you than you can imagine!!! 

Justin Seng you need to have the mentality that 99 percent of all reasons tenants give you for not paying rent or paying late aren’t valid.

Three months ago I quit my job and started a private practice (mental health).

I am excited about this mental shift and it has been a refreshing way to change the transactional mindset that flipping had become.  

Unless, of course, she managed to scrape up enough money for a down payment on her own property.Those are the consequences of tenants with an entitlement mentality treating their landlord's rules like filth to be scraped off their shoes.