Mistake #1 was figuring cash flow without accounting for CapEx and vacancies.

4) Mistakes to avoid when investing from out of state?

Quote from @Val Sundberg: What’s the biggest challenge you face when seeking private money lending for your real estate projects?

@Reggie SmithRecommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.Check out NARPM.com, BP’s Property Manager Finder (BiggerPockets: The Real Estate Investing Social Network), etc.Also, encourage you to learn from the mistakes of others - by reading posts here on BiggerPockets about owners not having their expectations met by their current Property Management Company.

The biggest issue for flippers (and builders) is controlling their cost.

Have seen owners make so many mistakes with maintenance and contractors, then hire us to fix their mess.You can try to use sites like Angi (formerly Angi's List), TaskRabbit, etc., but you will still need to watch everything for work quality, timing and cost control.Good luck!

First mistake/red flag.

Those two things seem to be the biggest challenge for those first starting out.

If this is the way investors learn, then the person that made the most mistakes, must be the smartest person in the world.Yes it's true, you CAN learn from your mistakes, but it's cheaper to learn from someone else's.

I think it is virtual certainty that I have not made a mistake in this area.