Luckily the banks aren't repeating the same mistakes again and an increase in interest rates will also most likely lead to an increase in rents since more people will choose to continue renting rather than purchasing a home.

Hello everyone, this is my first post here.Sorry for any grammar mistakes, English is not my native language :)After 2 years of learning everything I can about investing, I decided that I want to invest in real estate.

We actually bought 3 houses before the crash (which we still have), but the crash kinda discouraged us a bit.Now we are ready to get back into the game, and decided to learn from our mistakes (buying brand new and renting), now we wanna try this flipping houses stuff that everyone talks about.

You are going to make mistakes like I did, it's bound to happen.

So, if you have any intention of selling this property at some point, you should attempt to get this taken care of.That said, you probably won't have an issue with zoning assuming the building was approved at some point in the past and the subdivision of the parcels was also approved (in that case, it was a mistake by the building departments). 

And she ended up making classic newbie mistakes on renovations on 2 back to back purchase.  

The model has gone through several iterations and I have learned lessons from mistakes and successes realized. 

@Jordan T.It was great to be able to hear the breakdown of the numbers on that multi-family purchase, as well as the advice given to "just go out and do a deal" and don't place so much emphasis on making a mistake.

I made the mistake of trying to ask a couple of people who were viewing the house, to give me a deposit check at that time, but that went very awkwardly (which I sort of suspected it would).My inclination is to just drop the application deposit entirely; if they go through the trouble to fill out the application and scan the documents that I require, I suspect that I can treat that is meaningful interest. 

Rushing can lead to mistakes.