. :)But your right you don't have all the folks get on her who do poorly in real estate people just don't talk about it the same.. the closest we have come is the Morris/oceanpointe threads of some really really bad operators it took a lot of guts for those folks to get on BP and say hey I fell for the videos and the freedom number sent in 60k in cash and now all I have is a home never rehabbed and vacant.. although in my personal opinion it more than a civil matter.

Granted you fell for the sales pitch and probably don't realize the risk involved with this asset class but at least they could have given you what they represented.. the fact that you will have nightmare tenants for years that's another story and another lesson you will learn..

It fell flat on its face in 2008, and the home probably lost about 20% of its value.  

During the process of buying we had financing that fell through.

I bought a house on a well a few years back, and selling it almost fell through because the bacteria was a tick too high.  

We found rotting floor joist, a mold problem, and some risky tenants He did not want to recognize the risk we where exposed too and the deal fell apart.My misstate was agreeing to a low cap rate before starting due diligence with out communicating my intent. 

 Thanks for the reply @Todd FaulkI own the land out right, I had other plans for it that fell through so for now this seems like a good option.

Is it because it fell in line with comps?

Heidi, I'm going to respond to your about the specifics but, since you posted and tagged me here, I'm gonna reply here first, for everyone's benefit.I almost fell of my chair. $330,000 for a studio!

Tell you what though if you fell a little shady, make that purchase with a major credit card instead of a debit or cash or whatever.