And most likely they would lose their license. 

There's nothing worse than losing a smokin' hot deal because your funding took too long or failed entirely.Make sure you find an investor-friendly mortgage broker/banker who will talk straight and deliver under pressure.

I'm personally comfortable keeping them at 70-75% leverage, so if the market tanks and loses 30% I'm still able to sell the property.

Buying at auction sight unseen other than a walk around, I was stunned to see when i finally did get inside that the home had forced air heating and central air conditioning.....really lucked out there...it appears to be original because it had these big old cast iron floor grates.

. ;-) I've always had the attitude that I can always make back my wealth but I can't afford to lose a good wife. 

If you don't operate your LLC properly, you could lose all the benefits it provides.I own 20 units in my personal name.

Renters are screened by the government and lose their section 8 status if they tear up properties and they don't want to lose the benefit of the government paying most or all of their rent. 

Not all investors brrr their primary residence to avoid losing it. 

Do you just make an offer sight unseen with a contingency to give you a way out? 

I’ve been very happy with my successes, and I’ve been able to accept my failures with calm and been able to limit the damage to where the few loses didn’t have a majority pact on my net worth.