Our 32-year-old daughter-in-law, the mother of four young children, has developed breast cancer. 

They ended up declaring Chapter 7 and most investors financial lives were ruined.

Some years ago a man passed away from lung cancer due to radon and his family has been very active in promoting radon inspections. 

And again, out of our control, that was the rules as imposed, it was systemic industry cancer. 

For one thing, that's a great way to ruin your reputation if the deal doesn't come through.

Fast forward some decades and the now 50-60 year old man was required to get chest x-rays every six months so he could be a part of the Mesothelioma and other lung cancers class-action lawsuit.

I do not want my weird little hobby to financially ruin my family.I'm also worried about qualifying for financing without a job, but my husband qualifies on his own and has no problem supporting my REI.I guess teaching for another year or two is an option, but it doesn't feel like one.

To continue the side note, just wanted to say the reason they don't advertise or write songs about it is because there's an unspoken collective agreement to keep how wonderful it is a secret so everyone doesn't move there and ruin it.  

I don't want your experience to be 1 ruins it for the others on the playground.

Everything you listed as "risks" for flipping can very easily happen on a buy and hold property without the proper education (purchase too high, go over rehab budget, over rehab/ under rehab).There are definitely investors purchasing non rent-ready buildings so a rehab budget comes into play, as well as knowing what materials are best and more sturdy since over rehabbing things for them to be ruined after one year may be costly.