We have also seen failures of the locking system when exposed to the point loads of rolling office chairs.

I am new to this and I am mostly reading about success stories, so I'm trying to look at the other side of the fence and learn from past failures.

With the amount of bridge loans coming up in 23-24 there are lenders very aware of which properties might be on the precipice of failure.

First thing, my daughter had congestive heart failure and I was preoccupied with her health.

I have found that experience is often one of the best teachers, and a good mentor can help you learn from both their successes and their failures. 

Many OOS investors set themselves up for failure because they don't truly take the time to understand:1) The Class of the NEIGHBORHOOD they are buying in - which is relative to the overall area.2) The Class of the PROPERTY they are buying - which is relative to the overall area.3) The Class of the TENANT POOL the Neighborhood & Property will attract - which is relative to the overall area.4) The Class of the CONTRACTORS that will work on their Property, given the Neighborhood location - which is relative to the overall area.5) The Class of the PROPERTY MANAGEMENT COMPANIES (PMC) that will manage their Property, given the Neighborhood location and the Tenants it will attract - which is relative to the overall area.6) That a Class X NEIGHBORHOOD will have mostly Class X PROPERTIES, which will only attract Class X TENANTS, CONTRACTORS AND PMCs and deliver Class X RESULTS.7) That OOS property Class rankings are often different than the Class ranking of the local market they live.8) Class A is relatively easy to manage, can even be DIY remote managed from another state.

Calculate failure.  11.  

know your hard money fees that are involvedI have had some success and failure with Hard Money Loans.  

I can't think of a worse way to try to break into the business  personally.... failure rate is about 95% or higher... at least being a RE agent or Lender or leasing agent failure rate is closer to 50%.

.- Finding a buildable lot that you can get the density on- Actually getting that lot at a price that works (before someone else does)- Taking the financial hit to hold the lot while you get entitlement or plans approved- The flexibility you need to maximize the lot usage with all the requirements (everything ends up being custom)- Parking, parking, and parking- If you ran through and SDP to entitle the project, costs for other improvements- Finding financing for all this so you've got the right money at the right time (or, if you're using your own money, making sure you're getting a return on it at all times)- Of course, the actual constructionThese are a LOT of challenges, and trying to make your way through this is not for the faint of heart.If you think you've figured out something that others are missing, I say pursue it - that's how success happens - but know that some experienced folks think your failure likelihood is in the 98+ percentile.