It took me many 'rookie' mistakes, or using your term 'trial by fire' losses before I realized that its just not worth trying to be a jack of all trades investor.   

I realize I’m being a hater.

They may be easier to get to do business with you.1) Acquire a home that meets your (and the banker's) criteria.1.1) Ask the banker to finance the first project for the time period until you can refi into Fannie and Freddie1.2) Ask the banker if she/he has any pull with the mortgage department at the institution to ask if you can go on portfolio for a short season.1.2.1) Bank earns in the short term on the portfolio loan, then when your timeline is realized, they earn on the origination and sale of your loan to Fannie and Freddie.1.2.2) Alternatively, use hard money until you can get your refi.

I realized I was running out of time on my contract and had no contractor contacts to bring in for estimates on repairs which is what made me so unsure and killed the deal.

Putting 5% into a spreadsheet for capex suddenly makes a lot less sense when you go there and realize it needs a new roof and 3/8 AC units are thrashed.3) You sure this is a "Class C" property?

I'm learning one home has a larger amount of wood rot on the siding than I originally realized and it needs gutter work as well.  

People afraid of risks should stay out of real estate, but I also think it's important for everyone out there to realize the amount of reserves they need and the importance of well defined exit strategies.

Most business owners like him don't realize that they don't need perfect scores.

I have rental property, which I want to sell, but ....gain taxes.In my case it is exeptionalyl painfull, because I obtained this propertyas the part of divorce settlement and I am older person now.I already spent a lot of money for professional consultations, it helps but not to the end. ( lack of preperation from my site)I am in the process now to educate myself , as much as I can about 1031 exchange option.I want to be able to ask right questions during next expensive meeting with the lawyer orCPA.What I am looking for over her, for precious help....I am looking for recommendation of the websites which offer help with 1031,and this is their business,they do not require the client to be accredited investorthey provide the listing of properties for saleand what very important, they provide at least closely estimated analysisof the deal. ( price, rent amount, property taxes, other costs etc)After my investigations , I am the most interested in rural California,or Atlanta Georgia, or Charlotte North Carolina.During my searches I found website of type I am looking for, I think it was Atlanta,their listing was very limited, but provided this analyse.but I did not save it ( did not realized how preasure it was) and can not find it again.So please, if someone went through 1031 exchange process, please share the websideswhich helped to find the right property, even better if they manage rentals.My case is so pityful, so the cost to even higher limits is wort it.Thank you very much evaP.S:My expectations, with flexibilityTo have at least 600k from the saletake 120-150 k cash ( pay taxes on this amount)Invest in 2 sigle family housesTo have close to 2k cash flow from the rentpossible ?

So if they’re right, and considering their organizations spend billions every year on market research, and say we see even 8%, you then remove the expense ratio (we’ll use 0.15%) dropping your return to 7.85%, then say inflation manages to come under control and drops to 3% which will drop your realized return to 4.85%.