Arguably the top issue/complaint is "so n so said it was worth $____ and now I'm f'd, they lied to me" and it's been a thing of hiding behind the buyer-beware and whatnot.

The other limiting factors I see are restrictions on cashout refinances on vacant properties and rents not being high enough to support the new debt so the cashout LTVs are often lower than what the investor was looking for.3) Tax, insurance, labor, and construction costs have all risen as well which further compresses margin.Summary: most "BRRRRs" I see these days are lucky to get enough equity, enough rent, and what not to pay off their hard money and maybe pull a small amount of the personal capital out of the deal.

The other limiting factors I see are restrictions on cashout refinances on vacant properties and rents not being high enough to support the new debt so the cashout LTVs are often lower than what the investor was looking for.3) Tax, insurance, labor, and construction costs have all risen as well which further compresses margin.Summary: most "BRRRRs" I see these days are lucky to get enough equity, enough rent, and what not to pay off their hard money and maybe pull a small amount of the personal capital out of the deal. 

You can learn everything you need to know and all about what not to do in the forums or you can do the smart thing and not even consider wholesaling because you are probably doing it to make money to then invest and that is less than 1% who will succeed at that and most who do have a large budget to the ball rolling. 

i commend them to you to assist you in learning what not to do as you start out.Baltimore - a path to never-ending painSell at a loss or rent at a lossExperience of OOS investing in Cleveland after 1.5 years.Memphis Turnkey Tenant Turnover Costsif you have any more questions, i'd be happy to connect with you. 

As others have said, take your time and learn the basics and what not to buy before making any moves.

.: Quote from @James Hamling: I absolutely hate Hate HATE this BS ridiculous notion popularized by various books, programs, gurus and what not that you just go ask enough, or in the right way, and someone is magically dumb enough to sell you a $300k FMV property for $200k..... 

Some of our owners have accidentally thought they were handing a situation "right", and because Chicago is a very tenant friendly city, the laws tend to lean in their favor, and it can cost you a lot if you are simply just not up to date on what is proper protocol (for example, what to say, what not to say, what to have in writing, and what not to put in writing, etc)... can be worth the management fees.

Any lessons learned on what not to do?

So the summer has activities such as moutain biking and hiking and what not but its not too popular. we plan on reopening the business to summer activities.