It also made developing corporate credit a headache. 12 years later I never try and skimp by setting up foreign corporations (that's what you'd be doing)...

Many mistakes new investors make is to skimp on their office equipment. 

If you're nearby, you could skimp a bit and micromanage.

When it comes to a sale, as important as selling a home, it is not worth it to skimp out.While the Opendoor process may seem incredibly appealing, the fees and lost funds will not make it worth it in the long run.

The last place you want to skimp on is going for a 'budget' property manager.  

If not, don't skimp on countertops (or decide that you're willing to accept a lower ARV). 

Most struggling investors complain about not being able to find money and it's out there, but no one would rightly give over there hard-earned funds WITHOUT knowing you are more than capable of taking care of it and bringing them a healthy return, in a reasonable / agreed upon time frame at a rate beneficial to you both.So, good real estate bookkeeping is a must, and too many try to skimp in this area.  

I think the turn-key model is flawed to some extend, because to be truly successful you have to feed into the unrealistic expectations, which easily leads to skimping out on necessary repairs and overselling the product and then you end up with what Rebecca just described.

did you buy the title insurance that the key question if you did and did not skimp out on that one you would have a claim

Definitely don't skimp on the sofa bed.