I monitor the Houston forum, so I have read many of your posts - The primary theme I see in your posts is that you generously offer your time and expertise to new investors and allow a group of new or wannabe investors the opportunity to walk your flips and tag along with you while you are looking for or working on a project - very generous of you - I see that you were able to give an amazing opportunity to a new investor when she may have not had the confidence to move forward on her own without your guidance - I am a fan of collaborating with other investors when you do not have the funds to complete a project on your own ... it can be a win/win opportunity that otherwise would have to be passed up ......However, when I read the details in this post, a few things come to mind - it seems that you used very little of your own money ...$5,000?

Read the books they recommend!

At this point it doesn't seem to make sense to trying an get funded before the specified closing date in a few weeks, so we are looking to not move forward with the purchase.We are being told we can terminate our offer at any time we want, and get our earnest money back due to "not receiving proceeds from sale" or "not qualifying for funding"The way we are reading it is that we need to let the contract automatically terminate on the date specified in the contingency form, and potentially keep trying to sell our house, to get the earnest money back and not be in breach of contract.We want to be sure not to lose our earnest, and do everything according to the contract.Thank you so much!

After reading about twenty books, podcasts, and tons of research on real estate I figured out that it's something I am interested in.

Some don't get past reading through the forums. 

Also, if you're into multifamily, then continue reading books on multifamily real estate investing.

Really enjoyed reading this thanks for posting

There isn't nearly enough information on the calculator to give me a real indication of what is actually included in your numbers...but if you're planning for $35k profit...can you also afford to lose $15k...without experience it's possible to have your holding costs be much higher...and your renovation costs be 50% over if its your first project and you don't have actual contractor bids and are just guessing based on having read J Scott's book.

For a good description on the difference between investing and speculating (the greater fool theory) read the first few chapters of the book below: A Random Walk down Wall Street: The Time-tested Strategy for Successful Investingby Burton G.

I have spent the last 2 years studying, reading, listening to podcasts, and taking advice from this forum and other investors.