Purchase 50-60% depending on condition of house. 104k  - 120k Repair money 10% - 20% of ARV Total 60-70% of ARV  Invested Your best deal would be Purchase 50% Repair 10% Your worst deal is 60/10 or 50/20Never do 60/20 If you have 40k in repairs (20%) you need to buy at 50% 104K This would have left you all in at 144k.

Sure you can learn it by trial and error, but there is a cost to that, too, in time, opportunity cost, and mistakes made.That being said, anyone who mentors is going to expect and deserves to be paid one way or the other. 

Are they the worst areas to invest in? 

"Although the working poor of New York would explode into the worst riot of American history in 1863, these people did not provide the cutting edge of labor protest in the antebellum era. 

Rookie mistake I will not make again. 

Don't make the mistake of buying in a market just because that's where you were from or you have family there.  

I ignore if this was demolished during the time the listing was created and now, or if this is a mistake by the listing agent.  

You are going to fall & make mistakes.

Putting two different contractors on the job like this is a mistake...one will interfere with the other and the finger pointing starts.  

I've made the mistake of over rehabbing.