Most folks have this.. but many who were in RE in 08 did not make it through with out some bumps and bruises I by the GRACE of GOD made it through .. and it was dog tough but now I am in a pretty neat situation.So Anthony as @Stephanie Potter staed the only thing I see wonky is the 2,800... but a 24 month loan with only 4 points Is very good.. but of course if you have to go 24 months on a fix and flip then its generally an utter failure

This was due to a failure in communication on our part. 

2- can you pick yourself up after a public failure?

Your just heading for failure that way because a few capex items or a bad property manager will kill that quickly.So if I were you I'd go slow buy a better quality house or quadplex, hold it for awhile and learn and then continue to build on that over time.If you really want to try going quicker than that you'd need a riskier strategy such as flipping.

I know wholesaling can be done without help from a mentor, but it is a much harder journey filled with lesson after lesson (I say "lesson" because I don't like the word failure).

I look forward to learning from you all and sharing my failures and triumphs.

If you raise their rents and their late fees just be prepared for a vacancy, either by you needing to remove them for failure to pay, or them leaving voluntarily to stay in the price range they can afford.

I didn't want to lose sleep worrying about moisture related failure.

I agreed and, of course, never saw the security deposit....six months later I was evicting her due to failure to pay rent. 

This is a chance for out of state investors to meet each other and share their successes and failures.