Even if you’re a pretty experienced house flipper you may make certain mistakes that result in major setbacks. Here are some pitfalls to avoid. Not Setting Aside Money For Unexpected Expenses  It’s wise to create a cash reserve to cover unexpected costs, like replacing water-damaged floor joists, mold or asbestos remediation, termite extermination, or foundation repairs. You may also need to have cash set aside to cover additional mortgage payments in case your renovation runs over schedule. Not Considering Quantity When Ordering Materials Sounds weird, but here’s the deal. When ordering tile that you plan to use in more than