Ive also seen them make the mistake of making offers site unseen on properties, getting it under contract then letting it go...also creating bad will amongst agents.  

By limiting it to a much smaller or some other number it will mean you are forced to think about things differently, you won't make the mistakes with all the money at once and if you are getting loans you will have to meet certain criteria like having the property actually appraise for close to your purchase price.  

We made some mistakes, but learned a LOT along the way.  

I agree, time heals most mistakes or oversights.  

@Nick VersettoYou now know the mistake you made and have hopefully learned that the time to build relationships (lenders, buyers, etc.) is before you find a deal, not after. 

I think we made a mistake on this one since we wanted at least 13% cash-on-cash return and to cash flow around $400 after all expenses are paid. 

HMM;  IMO, that's a fundamental mistake, just as premature withdrawal from an IRA.You started on a good path with either of these, now let then sit and create another path using REI.

That's your first mistake.

I wanted to let you know here on the forums just in case you weren't aware and hope this is just inadvertent mistake as I look forward to listening all of the Bigger Pockets podcasts!

Hi, I think made a mistake on the Purchase Closing Cost input.