And speaking of partners, doing business with friends is a sure way to lose them, so think hard before proceeding further.

for your first foray into real estate, you are looking to do a gut rehab on a 3,700 square foot home with limited financial resources ... this will be a disaster, you will lose the home, and you'll never go back to real estate.

I can also see the argument that they have more to lose, but it seems like long-lived institutions like banks could afford to take high risk investments as long as they were profitable in the long run.

I did already collect a 1.5 month security deposit. the most I can legally collect in NJI am a bit pissed off that I was lied to, but at this time I have no interest in evicting her since she pays on time and I know I would lose at lease 1 months rent while looking for another tenant.

I give the option of paying an early termination fee a d walking away clean, or she remains responsible for rent and utilities until a qualified replacement tenant takes over.100 years ago, people would lose multiple children, spouses, parents, it other relatives, yet they still lived in the same home for decades.

Fun debt fact: for every $400 of monthly debt payments you owe, you lose $100k in buying power!! 

Still, if I rent the property, then there will be expenses to fix it again, and it might lose some value plus if the market will go down.I have five properties with a similar situation, definitely a good amount of equity there.Thank you all for reading, and I appreciate your opinion in advance!

You're thinking "but you could've made an easy $350 by helping me" while he is thinking "I was risking to miss the deadline for 15 clients already, and I couldn't afford to lose them." 

But don't see any reason why it couldn't be done.Keep in mind, I mentioned "shorter term" above, if you lose your job you have to repay it all within 60 days or it becomes taxable income. 

There are A LOT OF TRAPS along the way that can/will make the deal fall through (and cause you to lose your earnest money).