I learned this the hard way when I got a laundry list of unreasonable stuff and had to have a verbal fistfight with the inspector on the phone.Another thing you will find out if you do meet the inspector is that their time is way more valuable than yours.

I don't really have any interest in investing in single family homes and I know exactly what I want to gain from this experience.

I would like to thank everyone that contributes to BiggerPockets, alot of the information is very valuable to me, who is just starting out in wholesaling.Because I am just starting out in wholesaling, I don't want to waste my time and I want to start this right by asking the professionals on this website.Finding motivated sellers will not be the issue, but finding good quality properties that buyers are actually looking for will be my priority.

heather, so sorry this happened to you. this was very unselfish of you to post your unfortunate loss. it wakes up investors eyes & maybe even scare some away.having reserves is very important. a lot of peeps will just blow the $ every month to cover their personal spending. throughout this post you have definitely listed the realities of landlording. maybe you could start a LL reality show & gain back your loss that way?

Fellow Biggerpocketers (Yes it's a word..Lol)I've been reading here on Bigger Pockets for the past 2 years and have gained some valuable knowledge along with getting some much needed advice on a couple of investments that I'm sure I had no business even looking at.

The real estate market is poised to start a recovery and your property could be considerably more valuable in a few years.

@Bill Gulley, that would mean that it's the greatest job gain since Ronald Reagan was in office.

Army and when we went to Fort Irwin for a 30 day military exercise - individuals usually gained about 10 pounds.

It may be more valuable as a buildable lot.These homes have alot going for them, but they aren't for everyone.

Seems to me the short term capital gains tax would eat up a large portion of your profits.