The 2 biggest mistakes I see new or newish flippers making is underestimating the renovation costs and being overly optimistic about the time it's going to take to make the repairs. 

What I learned: - had to pay more than I calculated (WAY MORE)- took a lot more work than I expected- had to compromise in certain areas- went overboard on renovation- etc.

I think investors overpaid...some bought from seminars local realtors would take to California to sell brand new golf course community homes or old apartments in excellent school areas “renovated” into condos and sold for more than the single family 3-2-2s down the street.

What are my options if interest rates shoot up making my monthly payments larger?

My ideal company to work with would be a syndicator of some sort, I want to see how raising money and putting larger deals together really works.

My ideal company to work with would be a syndicator of some sort, I want to see how raising money and putting larger deals together really works.

Or at the very least it constrains proceeds due to debt service coverage limitations.That said, if you have the funds to pay cash you also have the funds to make a larger down payment. 

@Hadar Orkibi In the area a 3-bed/2 bath renovated would sell for about 680K, 2-bed/2-bath = 440K, 1-bed = 270K

I currently do not have any experience flipping homes other than renovating the two I have owned and lived in.

This is the time to build skills that will keep you from wasting that money you're saving.Also, you don't mention what your strategy is, but whether it's flipping or buy and hold, you're likely going to have to deal with renovations/repairs with any property you acquire.