I recently made the mistake of purchasing a property with a squatter and can tell you my new rule is never again.

I wrote it off as youthful indiscretion, which was a big mistake.

I bought my house at full retail right before the crash, and am barely recovering...my mistake was not educating myself.

Do you think this is a mistake and I should still be using the 50% rule even on a newer house? 

IMO waiting to get a lease signed until after close is a mistake.  

Can a post be edited for terrible spelling mistakes?

We wondered if maybe we sent the wrong letter by mistake!

After we get 10 properties or so we will need to find financing assistance or private money - the plan being that our track record will speak for itself and we will be seen as a low risk company for investment.We will be using BP to learn as much as we can and do our best to avoid the mistakes of other.  

Any mistakes could cost you time=money.

Wouldn't you be better served to partner with an experienced investor and learn to do it right rather than trudge along and hope you don't make a mistake?