I came across a deal that the house is built mainly (70%~80%) on one parcel,30% or less on the 2nd parcel. but the 2nd parcel wasn't on the deed as well. the seller has been advocating his house being on 2 parcels for great potential. 

Lesson learned!

We calculate there will be $17k per door on the back end along with great monthly income.So here is a success story with plenty of lessons to boot.

Our biggest lesson was not to get attached to anyone of them emotionally.  

PLEASE EVERYONE take this as a lesson, LEAVE HOA LET ALONE ALL FORECLOSURE AUCTION PURCHASES TO THE PROFESSIONALS. 

The key is to learn the very important lesson that this incident is screaming at you.  

Hi Kelly,  I went through the FHA 203k process last year and learned lots of lessons. 

Thanks for the lesson!

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.