I started my OOS HML  career in Detroit and that was 2002 and WOW coming from our area what an education I got.. my clients that were doing turnkey at the time and all the buyers were out of state ( basically LA based) the local on the ground operator was very good he had all sorts of tricks to try to keep the houses safe.. the one i really liked was painting the copper pipes grey so thieves would not steal them..

.——————————————————————————————————🌄 Henderson Is HotJust outside Las Vegas, Henderson is stealing the spotlight!

Lots of fakes out there so be careful.And its not so  much they will steal up front money from you.. but you waste time and money finding a place thinking they are going to fund you put up non refundable EM spend money on inspections only to have your deal die because you got with someone who cant fund or never could fund. 

I like the idea of a hold back until the punchlist is complete, but that doesn't prevent an unscrupulous contractor from stealing the initial deposit...

@Joe Splitrock - personally, I have no problem with 30 year mortgages on my investment properties right now...because interest rates are so low, I feel like I'm stealing money...plus it makes cash flow much easier month to month. 

They didn’t create Norada to be scammers and crooks.

I wouldn't fall for any deals in the D or F areas where the prices look like steals...

I saw someone post in a group who I think is a schmuck brag about hitting a specific figure for their training and I just shook my head - like wow - this person is a great sales person and just steals the same lines from the business book about working hard and throwing out some slick slogans - but man oh man - when real estate gets hard people move to being a guru - just look at FB ads right now - many are not funds anymore but how to raise money, how to do X.

Investors typically want a steal of a deal, so even 25% off is typically not enough for me to even stop....50% off market value starts to get interesting. 

First off- $4.5M for 48 units and 50% are vacant is not a steal, unless this property is located in a downtown area and you have a contact with a developer who will pay 2X to build a high rise. $93k/unit for 50% vacancy doesn't carry hardly any debt, hence why they are capping you at $500k.