On a related note, I would say that the biggest issue that small investors face is underbidding.

Yes the biggest issue was they grew way too fast and he set up an entire servicing company to handle all of their deals.

One of the biggest risks I observe with flips and first time investors are instances where the project goes over budget or gets stuck in mud, can't sell and even worse the borrower doesn't have the credit profile to refinance out to a lower interest lending source if borrower is required to hold the property as a rental. 

The good news is that most of the businesses are moving to Texas which is the biggest hurt that they can put on the state.

That was the biggest motivation to post it, and this was the most recent story I could recall.

Biggest mistake I made was not keeping 50 or so more of the 500 I flipped, cost me millions, All the best  My last 3 multi families 2429 nw 81 3/2+ 3/2 purchased at 385 October 2441 nw 81  3/2+ 3/2 purchased at 400 October 441 nw 44th 3/2+2/1 purchased at 280 August again there’s deals , you just have to look.

We aren't in "US is going to default and is an inherent credit risk" at 6X national debt to tax revenue ratio, but we are getting close to "let's be wary" territory for creditors. 

Does anyone have experience with how much the annual revenue might be?

Quote from @Chris Seveney: Quote from @Lu Kang: Quote from @Carlos Ptriawan: one biggest issue with syndicator is during 2021 (low interest rate era) they purchase very low cap asset with floating debt while CPE is increasing, that's suicidal if they know a bit of macroeconomics.sorry guys.... 

The biggest difference is having the patience to wait until what feels like the last minute to book folks compared to LTRs.