Unfortunately, I haven't gotten any pictures yet.Here's where I'm at financially: I had $10k in savings, but after some unexpected hospital bills for my dad, it's looking more like $8k now.

This is an unexpected expense on top of a complete renovation plan for the winter.

Budget for Unexpected Costs:Always have a contingency fund for unexpected expenses.

Less Competition - High-interest rates and market uncertainty may deter some flippers, reducing competition for distressed propertiesMarket Demand - In some areas, there remains strong demand for renovated, move-in-ready homes.Price Negotiation - Sellers of distressed properties may be more willing to negotiate in a high-interest rate environment.Cons:High Carrying Costs - High-interest rates increase the cost of borrowing, which raises your holding costs (interest payments, taxes, insurance, utilities).Market Volatility - Real estate markets can be unpredictable, and high-interest rates may lead to slower home sales and declining prices in some areas.Renovation Risks - Unexpected renovation costs and delays are common risks in any market, and high-interest rates exacerbate the financial impact of these issues.Financing Challenges - Securing financing for both the purchase and renovation can be more difficult and expensive in a high-interest rate environment.Mitigation Strategies:Thorough Market ResearchAccurate BudgetingEfficient Project ManagementFlexible FinancingExit StrategyFixing and flipping properties in today's market can still be profitable if approached with caution and thorough preparation.

These kids are really head-and-shoulders more prepared for life as useful, capable people than my own Gen X (I was born in the mid-70s) or the Boomers.But it doesn't happen by accident, and yeah, there are plenty of Millennials and Gen Z who are likely not going to set the world on fire.

Include a contingency budget for unexpected issues.

Most pet owners are responsible people who control their animals and take responsibility for accidents.3.

Sadly, she died unexpectedly last winter, and here I am.

Sometimes the best opportunities come from unexpected places!

Assuming I had the experience, I would only buy a place with structural issues if I had 1) an experienced and trusted structural engineer telling me a clear, and verifiable explanation of the cause(s) of the problem and a viable and affordable solution, 2) trusted and experienced tradespeople who would be implementing the solution (carpenter, mason, etc.) confirming with me that they could fix the issue (with 90% or higher confidence that the issue could be resolved within budget), and 3) confirmation from city inspectors that the issue (and an inability to fix the issue) would not result in condemnation/revocation of occupancy permits. ...and even then, I'd only proceed if I had the cash reserves to ride out a major series of unexpected problems (e.g.; time overruns, budget overruns, unexpected revocation of occupancy permits from the city, etc.)