Basically i wanna understand the pros and cons of both i can always balance it and come to a decision on my own lol.

It's a business decision and the risks are exactly what you mentioned.

It needs some things and I'm actually enjoying some of the DIY parts, though long term I intend to get reconnected to the trades and hire all work out.  

In the end, if you want to be an investor or a wannabe is the threshold decision you have to make.

So, if you borrow at 12%, you might find yourself in a situation where your note is worth less than when you bought it and where you have to make a decision of holding on till it gets better if you have the means to do so or selling at a steep discount because you can't hold it.

@Marek JavorekWelcome to BP, and congratulations on making the decision to invest in your future via real estate.I have written a few blog posts that may help you get started here on BP, and with your investing.

@Matt SlobodaWelcome to BP, and congratulations on making the decision to invest in your future via real estate.I have written a few blog posts that may help you get started here on BP, and with your investing.

@Celestine Turner-KisonWelcome to BP, and congratulations on making the decision to invest in your future via real estate.I have written a few blog posts that may help you get started here on BP, and with your investing.

We own a few houses that we converted from our primary residences to rentals and because of good (Lucky) decisions, we are fortunate enough to have some great equity built up. 

Ive recently made the decision of getting into flipping.