If he's not licensed, chalk it up to tuition in the real estate investing education.

One real conversation with someone active is worth more than five casual ones.If tuition is covered, school is a solid move.

My first tenant ended in a nightmare with her moving in her boyfriend without telling me, he boyfriend getting her into legal trouble, and the whole ordeal ending with a trashed house and an eviction.I have had my current tenants living at the house for the last 2.5 years without any problems and they are a joy to work with.I paid some tuition with my first tenants...now up to 5 doors!

I’d look at it as tuition costs of learning the business. 

Unfortunately sometimes we lose and I'd chalk it up to the cost of tuition. 

She deserves equal credit.The MAO miss cost you 0k in profit, and that's expensive tuition, but you learned it on a deal where you still made money.

The first one is tuition, not perfection.One small step I’d take next is exactly what you’re already doing here: keep engaging, keep asking smart questions, and start underwriting deals even if you don’t buy them yet.

I look at my mistakes as tuition for lessons learned and a part of life. 

Van Gundy allegedly misappropriated the remainder to fund her lifestyle, including a nanny and private school tuition for her children, boarding costs for horses and shopping, not to mention a $7,000 weekly salary.SEC.gov | Drive Planning, LLC and Russell Todd BurkhalterMy favorite as they were promising 40% returns to investors (who gives 40% returns), and scheme was over $300M...The Securities and Exchange Commission today announced that it obtained a preliminary injunction, asset freeze, and other emergency relief against Drive Planning LLC and its founder and CEO, Russell Todd Burkhalter, to halt a $300 million real estate Ponzi scheme impacting more than 2,000 investors.

*In addition to the $7,000 weekly salary that she drew from ORES, Van Gundymisappropriated more than $5.7 million in investor funds for her own personal use, spending thosefunds on a variety of purposes, including payments for her nanny, private school tuition for herchildren, veterinarian bills and boarding costs for horses, cash withdrawals, auto payments, retailstores, and debt extinguishment, among other personal expenses*