I’ve seen this happen to people and it’s devastating.

It's sad people lie, and it is even worse when it is a fellow veteran.

One of the issues I have noticed is that some people think of a flip house as being the cheapest possible rehab. 

Buying OOS just adds several layers of risk for most people and most places. 

Before the income subject to UBIT is calculated you can depreciate and deduct expenses and losses on that portion of the income so generally it's not as bad as people think. 

I’ve never gotten that from a traditional lender but I have heard of people that have.

ways to meet such people would be meetups, or simply walking into some smaller offices, could also ask around to other owners of the assets you are interested in and see who helps them. 

I do know Walter and have known him for more than 25 years, he is upstanding and he is smarter than the average bear, he's in the deal to help people and I have learned an immense amount from him I am now 67 years old and I bought my very first home by having my parents cosign!

No offense, but telling people "that's not a good way to do it" and nothing more seems like a little league coach who tells his players "you're doing it wrong" but then doesn't give instruction of how to do it better.

Quote from @Brittany Minocchi: I'm a bit farther north, but I've helped a couple of people with loans in that area - the properties seem to be working out well for them!