I've been burned by this once before, but it's just less stress on me with this informal policy.

Timeline ranges from 22 days in Texas to almost 12 months in some other states. ” The borrower could file bankruptcy (can someone confirm that this will only cause delay, but not jeopardize ultimately collecting the legal balance of the note)”I wish I can confirm that, but it isn’t true.  

If you are looking at properties in need of renovation, they want you to know your costs up front and many will be as-is purchases with the expectation that you aren't requesting repairs and your costs are confirmed.Depending on your state, but likely in all states, you have an inspection contingency in the contract, but what you will learn is that you will be competing against seasoned investors and contractors who know their numbers and houses so make better as-is offers.

Whenever you are spending a dollar from the business, you should be saying to yourself "In what way does this expense return more than I spent?"

@Muhammad Kashif to avoid interest related transactions:1) Buy & hold rentals - you make your money back via rental payments.2) Funding flip deals - instead of lending at an interest rate, you could lend for a percentage of the profits on the sale.

I use pricelabs as a guide but it takes time "in the market" to see how guests are responding to pricing.

think 10+ years at this point. 

Keep pushing, learning, and networking.

@John Kelly this is a rabbit hole that so many folks go down.

You need to learn to be an expert in some source of stress at finding, filtering for (a data source tool like propstream.com) or buying from a data vender who is good.