Basically they'll come up with reasons as to why the "guarantee" doesn't apply to your situation. 

My PM asks for ID as step #1 for these reasons. 

Not for any reason, I just didn't think of it... and they had asked for dimensions of the cabinets to replace the fridge anyway. 

It is not uncommon - main reason we see right now is over inflated original ARVs and now borrowers cannot sell and pay off the lender. 

. $7k sounds more reasonable but I think setting 5 to 10 years for you and your sister to reach Financial Independence and quit W2 job (assuming you also have W2 job unless you own a business or are a real estate agent) is really challenging.

One question that you may not want to post here for legal reasons, is how much are you paying your PMC?

Great people, intuitive platform, get their K1s out on time and returns have met expectations...one of the reasons I am invested in two funds at this point as the first investment was really to test the waters and validate I was a good fit.  

Despite higher interest rate environment, there's reasonable probability inflation will still continue - thus increase hard asset valuation.

Also, newer wholesalers only see about half of their contracts get dispo'd and closed (sometimes less) because of the reason just mentioned or a lack of Buyers to dispo to. 

We have rented the long term unit to family friends for over a year and the bills were always reasonable.