Rather, use those circumstances to help build our foundation, enhance your problem solving skills and expand your knowledge to grow as an investor.

I had a small stale second, originally 10K I believe, I just let it sit, I knew the borrowers and their circumstances and knew they wouldn't be going to court over the matter.

It sounds like we are in a similar circumstance. 

BIG ONE HERE.Our state, (Calif) has the following ruling on deposits, 10% or $1000, whichever is LESS.Our state also has a clause for requiring contracts, I believe it to be they must be in writing when over $600, verbal contracts for less must include 3 parties.I've seen handwritten quotes I can barely read, make sure you know the extent of the job, and potential unforeseen issues.Fires, (electrical) don't just happen, they are created, and often times take awhile to show themselves.A good tradesman is worth his weight in Gold, we are all just trying to make a living, if you want cheap, you'll get cheap.

Here are some things that have come up in my rehab that were unforeseen in the many walk throughs with our 203k consultant, 5 GC's and me:Plumbing system had been frozen EVEN THOUGH the property was winterized.

Even if we are working with a tenant who has a special circumstance and pays rent late with the associated late fee, we don't let rent go unpaid past the 15th of the month. 

Just Google "transactional funding" and start talking to the different lenders to find the one that works best for your circumstance. 

That is, if the LLC is treated as a "pass thru entity", it's expenses, etc. may figure against your other personal income in the right circumstances if your tax accountant says you did everything right to make that happen.I'm not a financial professional - you'll have to get that input on your own.

My mom starts telling me about what am I going to do when things break, or if unforeseen issues pop up?

Many have all sorts of exceptions for various sorts of signs under a variety of circumstances.