(they cut copper and wires)we put in to it 1 month of self work (learned from youtube) plus hired a professional (for the shower and kitchen) at total of 20k.we sold it just now for 35k (lost 7k)the good thing is that i can notice the mistakes:1. we've upgreaded the elctrical sistem at a bout 4k. most buyers dont care for that and it cause a lot of holes in the old plaster wall (much worse the dry wall)2. we didnt paint the outside- thinking it less important (its very important)3. we used stick on tiles instead of vinyl floor (1 days extra work), replaced windows that were old but not in a bad shape and a few more extras there and to littles here...4. to stress to buy (we were not local and had a flight back home) and to sell (we thought the snow slow the market down- its not so true)to summaries it:dont buy a house with electrical issues, bad windows, and rough exterior.dont be afraid from holes in the walls, old paint or pluming issues- those are reliability easy to fix and drop the purchase price dramatically.now we will buy 2 more houses with a purchase price of 12-20k, remodeling budget of 8-10k.we predicts a 15k profit on a flip and 20% roi on a rental (1 house for each niche)i leave you with some pictures

Knowing my luck if I went ahead and did that we'd get the "5% stock market pullback" that the everyone keeps predicting. 

People could predict a crash for decades before it happens.

Persistence is a good thing, but on the other hand,  you don't want to get so attached to the idea of this house that you're willing to buy it at a disadvantage to you (like without seeing it, or if it needs more work than you predicted, etc).

I hear time and time again from podcasts & advice online that this shouldn't be an excuse to pass on getting started (nobody can predict the future).

.] - 12%Whether you predict them or not, those missing items alone can and will cost you upwards of 30%-40% of your property's income. 

I'm looking to get a house close to the pro football hof.

Many experts predict prices to drop 20% from their 2022 peak, which means they could continue to fall throughout 2023.

I see most syndicators always project exit cap rates aggressively lower than the going-in cap rates (~2% lower is standard from the financials I'm seeing), which obviously increases the IRR quite a lot.This deal was particularly interesting to me because of 3 things:1) I know the area, as I used to live near Sacramento and I know it's a very interesting market that it's appreciating just by taking in all the incoming population burned out by the bay area pricing, and the employment opportunities are interesting2) The debt terms of this deal seem very good3) The exit cap rate lower than the in cap rate: with this one, I still don't understand if the syndicator is trying to be conservative and predicting a market downturn, or if there is something else I'm not aware of.

Just getting the pre-work to get permits is taking what I'll predict nearly 12 mo;  survey, architect, structural eng THEN permits THEN demo THEN framers.