This is what he says?

YOU PAY $5,000 flat fee  to him and finance the house/rehab and he says.....

Here's how: I will help you buy a house at a wholesale cash price, which gets you the absolute best deal. Once you own the house, my construction team will manage the rehab, updating you as the project goes along. The goal is for you to be all in under 75% LTV (loan to value). Once we have it rehabbed, we turn it over to our rental management company which will get it rented and then take over the maintenance and management of the property. Finally, once all that has happened, you refinance the house for 70%-75% ARV, meaning most of your original investment gets refunded by your loan, and the rent pays the mortgage every month. Essentially you end up paying yourself to buy a house! You truly do get to have your cake and eat it too!