Real Estate Nightmare Stories

[Adam Hays]

Everyone loves to read a good success story. I have read numerous forums about the biggest and best experiences people have had through their REI careers. Some had wonderful success on their first deal, others it took a little while to learn what to watch for. I'm attempting to start this thread not to embarrass anyone for the mistakes you've made, but to hopefully help teach and guide others away from making the same mistakes. It is always much easier to look back and see what we did wrong than it is to know all the potential pitfalls before we start.

So my question to the BP community is, what are some of the nightmare stories out there?  What are some of the deals that have been made that you wish someone had been there to warn you about before hand?  If you could go back and do the same deal a little differently, what would you have had to do to make that nightmare a dream come true?