I looked for a forum called "flipping fails" and could find none, so in the interest of full and honest disclosure of good, bad, and ugly sides of this business so that you don't get the wrong idea that real estate investing is all roses and buttercups...I present the following "flipping fail" to share a big lesson learned.This project started with good intentions 2 years ago when I found a HUD home in a resort area of east central Georgia called Lake Oconee. 

As much as you think our market is expensive, there's a high probability that it will be an expensive lesson to invest elsewhere. 

Just a lesson learned.   

I have had a fair amount of experience with MF experience in the US, lots of lessons learned, and if you are going to do so, there are definitely things you need to know! 

Don't fight with them just do what you have to do and take it as a lesson so you will never make the same mistake again.  

We are still hoping we could still close this deal by tomorrow.Memo to self ...Lesson 1: ... never do a 2 day financing even with a mortgage pre-approvalLesson 2: ... never release the financial condition even with mortgage pre-approvalLesson 3: ... get equity financing lined up first before dealing with a bankAm I doing all these things wrong?

Learn on their nickel so you don't have to pay the expensive lessons yourself.

I look forward to all of the great lessons and opportunities to come!

I wrote a blog under my profile about the top 10 lessons I learned since jumping into multifamily a few months ago. 

Looking back...I personally would have followed #3.I have learned my lessons...made some money, lost some money, made some back...but in my opinion...partnering from the get-go with the right person would have been a preferable route for me.Just my 2 cents....I still love the fact that you have this community to learn from!