When starting with fix and flipping you will make three killer mistakes:You'll underestimate the rehab costs.You'll overestimate the ARV.You'll underestimate the time from your purchase closing to your sale closing.Its likely on the first few deals that you will make all three mistakes.  

You'll skip all the tedious falling down that beginners who don't pay for mentors go through, avoid all the costly mistakes.

At a purchase price at $1.1m, there is no room for mistakes. 

The collection agency called me back an hour later and apologized, saying it's a big mistake.

Perhaps my mistake was equating colleague requests too much like FB friend requests, or Linked-In connections, etc. 

I bought a vacant Quad and Duplex which are adjacent last month.
The property was vacant for two years.
I went to city to pull permits for renovation, I came to know that the current zoning is Single family.
As th...

mistakes I've made - primarily in the contract details.... 

I'm still reading, trying to learn as much as I can to minimize any mistakes I might make during my first few deals.Let me know if I'm on the right track.I have about $50K available to invest right now.

Many of us have poured our hearts out on the subject already.Please do not make the same mistakes we did!

Big mistake in selling.