Then rent it out for market rates.Chances are that if you can absorb the cost of the occasional repair like a water heater through your regular income, in 15 years you're going to have a nice net worth gain over what you would have done if you didn't jump into real estate.If it was much more dangerous than that, everyone would be losing their houses.Opinions?

Not saying I don't have the occasional day when I do dream of quitting it but for the most part I get to earn a steady paycheck while ploughing money into my investments (property and otherwise).

I now have about $4000 start up CASH to work with, and the ONLY monkey to whip now is getting thru these lending requirements put on us hardworking HONEST consumers by the bloated whales down @ Nosebleed national bank and trust!!

I'll still show an investor occasionally but it's the same story. 

But even the best experienced flippers can have an occasional failure.  

I occasionally enjoy doing certain aspects of the renovation myself but never have paid myself the equivalent wage associated with these different parts of the project.

Additionally, there are a finite amount of deals at any given time, which is why investors compete for those deals and occasionally cooperate when it is in their best interest. 

In my free time I help out in my family's consumer goods distribution business, assist my favorite new attorney in her sales & marketing efforts, and occasionally work on some small internet based projects for fun.  

And sometimes, there is considerable pressure to sell the property quickly, in order to satisfy these debts.I buy real estate, and occasionally personal property found in estates.

@Sylvia HannaWhile I'm sure there are people who have done this type of investing, not being able to see the property prior to purchase or drop in occasionally during the rehab could have very disastrous consequences to your flip.