Worst they can do is say no.

Mistake on our part I know.

Purchase price: $120,000 Cash invested: $10,000 While this started off as a very easy low cost flip, I quickly learned a lot from first time investor mistakes.

My hope is that it can either help squash some fears or help one person avoid some of the mistakes that we made.Quick recap, my wife and I moved to Wilmington, NC a couple years ago, discovered Bigger Pockets at the same time, and after renting for a year to figure out the town, we bought a duplex at Carolina Beach, moved into the upstairs 3/2 unit, and starting trying short term vacation rentals in the downstairs 3/2 unit.

Pick A or B class neighborhoods, drive around them, and look for the "worst" houses in those areas with the least amount of curb appeal that rehab efforts can fix. 

I know I've made huge mistakes investing by sitting out of a particular name because I was going to wait for it to crash.

About the worst things that have happened are a drunk guy falling off his porch and breaking his arm.Tenant #1 fooling around with tenant #2's wife.

This will hopefully be my worst-performing investment.

The property was appraised 30k more than my purchase price, so i guess got a good deal or made a bad mistake inheriting the bad tenants.To my surprise one of the tenant is paying rent, but the other tenant situation is complex.

So I am in the process of closing my first house and unfortunately lender made a mistake in my application and we are now delayed by 3 working days.