@Mohit Madaan one of the biggest mistakes I see people starting off make is choosing a market because they like to visit the area or have family or friends that live there.

I think your 30K in saving would vanish very quickly if you lived of it or made a mistake when investing.

My typical partner is mid 30's  wife  2 to 4 kids and is working very hard to get were they want to be... not spending hours on real estate chat sites.. my biggest players really don't even know about this site or if they do never come here.. as I state they are too busy making money and providing for their families.But one thing is for certain there are many very capable and well established investor on this site.... make no mistake about that.

I spent a year and over $250,000 (down payment, renovations, and furnishings) on this two-bedroom condo outside of Washington DC, so I'll report back if it turns out to be a mistake.

Consequences for the inevitable mistakes are more severe.  

I know that was my biggest, dumbest mistake, but she was a "friend." 

@Esaul Viramontes, I'm glad your desperation didn't lead you to a big mistake. 

I'm confident that I will do well and I'm generally not concerned about the failures of others (but seek to learn from their mistakes).

I’d say this is where the most learning took place as I made a lot of mistakes in my online marketing and being completely overwhelmed with the interest in the property.After all the renovation, I knew we had equity to use so we Refinanced our house via a home equity line of credit to pull money out to put down on our next project in a grade A neighborhood.

To avoid an expensive mistake, consult a real estae attorney.