Good luck in your adventures in real estate.

I won't go into my adventure at the Office of Buildings, but suffice it to say, I still do not have a permit to demo the damage.

I started my part time real estate investment adventure last year when I bought a duplex which I have been house hacking since.

@Eric DymesichCongrats and good luck on the adventure!

It is a gamble, especially if you are out of state.

These aren't issues that are specific to flipping and should be a primary focus for any real estate investment - The bottom line is that you made a profit despite the challenges you faced - and congratulations for that - but it seems to the bystander that you gambled with another investor's money while investing very little of your own - you put yourself in the position of a teacher or mentor when in fact you are not extremely experienced in the business of flipping - consider how you would feel if you lost a portion of your partner's investment....Today I am closing on the purchase of my 15th flip for the year, and I wouldn't dream of taking on an investment partner who wasn't equally experienced and had an equal say in the decision process.Good Luck with your future projects and Happy Investingjeff 

You are definitely in the right place to start your education and REI adventure!

You’ll learn how Paul discovered the vital difference between investing and speculating, why falling in love (with a deal) is incredibly dangerous, and the huge real estate gamble that Paul made that cost him $40,000.

Its educated gambling..... and you may hit a grand slam...or you may get punched in the nuts...... its personal decision on your risk tolerance.Sometimes that huge leap of faith and "screw it, I'm going for it" can reap huge rewards....and sometimes it doesn't.For every "I bought it sight unseen and its doing great", I would easily bet there are dozens that have been totally screwed...some of them don't even know it yet.

My wife and I have one single family rental already, and I'm looking to learn more and expand our real estate adventure!