Another person on the other side of town makes the same bad decision, but instead of arriving home safely, lives are lost and/or irreparably damaged as a result of their choice.How that person chooses to move forward from their mistake can sometimes be a better indicator of who they are than the mistake itself.Hope that helps...good luck with your decision!

The areas may not be where I choose to live, that does not make the areas any less desirable to others.

It only took me 4 months to rehab and stabilize then refi and cash out my rehab costs plus a little bit more (if I choose) and have a nicely cash-flowing property.

Your money guy gets to run numbers, but not choose paint colors or collect rent checks.

More and more investors are choosing this delivery method in our markets as they typically get the biggest bang for their buck this way and virtually eliminate they need for any change orders which can get out of hand without and good well defined scope of work and complete set of construction documents.One recommendation that I can make without hesitation is to be certain that you use only DC experienced and licensed general contractors when you bid it out, as I have seen lots of developers/investors get delayed due to regulatory issues associated with stop work orders and the like because a lot of contractors don't know the process and the system in DC.

I've noticed that a lot of investors keep their day jobs after they seem to be very successful. I've met people who have been flipping houses for over ten years and still have a day job. I'm too polite to ask the...

For example, if you buy a condo in Trump International Sonesta, it can be managed by Trump management; but you also have a choice to choose other PMs.

That means getting a mortgage originator to process the loan, draft terms and approve it, possibly close it and having the deal under the hand of an attorney.You may need to sweeten the deal with your buyer, pay costs, lower price, but they need to cooperate.If you can think of some song a dance to get them to leave happy, cash for keys and kill the deal, that would be a great way out for you.

It's a bit complicated how it works so for more check with a lawyer.In short, you have few options she has many and in general if you choose to do any investing now do it with the mindset it is all half hers, maybe more depending on how good her lawyer is.Court is not about who is right or wrong, it's about who can argue there right better.

There's a starter article on BP http://www.biggerpockets.com/renewsblog/2009/9/23/how-to-choose-real-estate-partners-and-the-criteria-to-usewhich focuses more on whether the partner is professional.