It's much easier to eat the costs of expenses when you have rent, a new security deposit, etc.

Be very conscious of schedule, what's needs to happen before other items.

My wife and I with our two children plan on living on site, we have an Airstream, so we have eating/sleeping space for our family, during the work, kids can play in an area, and I can work on the property. 

My dogs eat their poop, then get sick.  

Capital will increasingly flow to the housing sector, crowding out investment in other fields.In short: "Housing is set to eat the U.S. economy."

This is because there may be multiple heirs, other claimants or creditor claims that could eat away or eliminate equity.In my state, CA, DHCS (Medi-Cal) commonly takes big chunks and occasionally all of remaining equity.

If it were me and I had just gotten out of school, I'd stop eating and whatever else it took for the next 30 days to save up the difference between now and closing. 

I am a full time investor and Realtor, so I eat breath and sleep real estate. 

I think of it like eating a restaurant.

If you sold the house, your closing costs would eat up some of your proceeds and on top of that you'd have to pay capital gains.