I've been burned a couple times early on, but the type of personality that operates with no consideration of anyone else but themselves is easy to spot with a little experience.  

Account Closed Wants to burn it all down!

It is a great deal: my all-in will be around $105k and the home will rent for $1400/month.I think that the only problem with this home is that there is a burned out property next door.

While HELOCs always seem appealing, since you feel the untapped money is burning a hole in your pocket, consider the risks.You’ve never flipped a property Rob, and not all flips are successful.

I have been burned in both. 

My partner would burn through a truck and had 1500 dollar cell bills per month in those days.So I told my partner ( the logger) Hey let me bring this into the the 1990'S.. 

Their great investment crashes and burns.

@Edward Burns - While your concern has not been proven out in court, to address your concern, people that do not want to rent to these types add an extra layer of protection.

One of my investors got burned badly when going down this route and having a clear outline was the one thing he would have changed. 

Imagine you put the $100/mo aside telling the bank it’s “insurance”. 2 years later the house burns down and the account has $2,400 in it.