Like anything else you have done...you WILL make mistakes, just fail fast, mitigate the damage, learn the lessons and we will be hearing your interview on the bigger pockets podcast.   

"Hire a contractor" is what everyone wants to do, and yet is the #1 reason people claim their projects fail.

. * Get really good at negotiating, you will fail with this strategy more times than not, but it's okay.     

As they say....Fail to prepare, prepare to fail.

@Zechariah Crosby,If you fail to plan, you are planning to fail.

Even if I believed their numbers (and I never do), right out of the box this "deal" FAILS as a rental AND as a flip!

I have a friend that was a Superhost on AirBnB, managing only 3 to 4 properties for an out of town owner, and there were often times where she was driving from Asheville to Swananoa and Blk Mtn to clean properties when her cleaning staff - hired by her, trained by her - failed to show up.

I’d rather replace a water heater or toilet if it’s a few years from failing.

I also watch a lot of people fail at this because they don't know what they're doing.  6) If you really want to know about the business, I wrote it all down here: https://www.biggerpockets.com/forums/93/topics/525099-how-to-be-a-better-wholesaler-with-faqsWishing you all the success in the world, but it must be earned.  

I see a lot of discussion about new investors being nervous about their first deal...I remember being there myself. I did not want to buy a rental unless it was going to be a home run! I finally broke the seal. Sadly,...