Lessons learned are very lengthy, but here's the short list: Always check flood zones, work with a contractor that is used to working with the city and pulling permits, work with a contractor that is used to working with residential properties versus commercial, schedule regular meetings with your contractor to check on status and hold accountable, be sure to consider permitting time when calculating holding costs, and lastly, be sure to have reserves in case of natural disasters (i.e COVID)

Human nature is the killerHuman nature can be greedy, impatient, egotistical and fearfulIf I called somebody `averagely intelligent`, for example, it would be considered an insultIt is normal to think you are smarter than others, and can time markets, and can use `research` to beat the market even though it is all publicly available information4.

This is human nature 101. 

I know mass has an expensive market so I was wondering if it would be better strategy to possibly invest in a cheaper market in a near by state or something of that nature?

I researched this but couldn't find anything online or BP about a gas well of this nature.

The reactions of the real estate market are always, by its own nature, slower than the reaction of the stock market, a delayed reaction to events depending mainly on unemployment, bankruptcies etc.

I was willing to jump in to my first deal because I understand that failing is inevitable and therefore a natural part of learning.I hope this helps!!!

This is a moot point though since presumably if you could make the same income from a more expensive (ie nicer) property you would naturally choose that asset over the other anyways.

Curious what has worked for others (currently I have student loans and due to the nature of my program I can’t work.

Have you experienced anything of this nature and how did you resolve it?