Now flash forward about two years to where we are now, and the purchase price of a fix and flip in FS is going to be a considerable amount more in most cases than it was just two years ago- the numbers here might not make as much sense then in this case (it's certainly going to eat away quickly at your ROI).

However, if it gets to be that we are meeting multiple contractors and having to stick around at a property all day for several days waiting for contractors (who often are late or don't show), that eats up a lot of time that isn't being accounted for in the normal fee.

You are generally not required to eat legitimate costs.

I always thought I'd try to avoid condos as there is lower potential for the property to increase in value and condo fees eat into cash flow.

Time and management can eat away at any kind of returns or equity return you are getting by pulling capital back out.

As the household income in older areas declines, prices and rents fall to match.Generally, home prices will be significantly lower than metro areas with expansion limitations.Investor FriendlyYou could buy what appears to be an outstanding property only to have operating costs eat all the cashflow.

Hard money here would eat up over $100k. 

Be sure to have reserves for this as it may eat into savings you expect/project from rents.

I am also going through an eviction and I wanted to collect damages to the unit from the tenant but I did not have any information about the tenant's work so my lawyer advised me to just eat up the costs.

Things happen sometimes and if you can't stand to lose your **** and eat the next day you should save up.