Fast forward to a year later, and they have a "famous" realtor who I believe is very intelligent, and is trying very hard to sell that house.

Use an artificial cap of 7-8% and a 1.25 DSCR and take the lower of the two on a 65-75% lever.

This morning I've already been on the phone, talking to a broker who has another multiunit listing in the same city and basically just trying to get more information about the market.As far as not having any brains, I actually think that I'm relatively intelligent (I went to a top tier eastern college, have a law degree and have been working in private practice doing high end estate planning and probate for 8 years) and going about this in a fairly reasonable way.

I'm a reasonably intelligent business person, and I understand the importance of developing a niche for myself.

I happened across this site a while ago and was impressed with the intelligence and helpfulness of the members.

Even if you don't do the work yourself you'll at least have the know how to speak intelligently with anyone who you have quote you.I've paid (once or twice) to have roofs replaced.

They make millions and they go broke.Take the money and invest it intelligently.

Considering we are in a recovering market that still has an abundance of foreclosures to get through (since the REO supply was artificially cut off with AB 284 in 2011 etc) and new neighborhoods and towers get approved to build left and right, I fear that adding to the supply side of the market is probably one of the worst things you can do right now.

Lots of sociopathic personalities out there,, however at the end of the day buying rehabbers is not a highly complicated business as you state LOL, I must have the same algorithm hard wired in my brain along with my lie detector eye balls, I certainly got my share of liars and embellishments, but none were funded, maybe it's my cynical nature, maybe a bit of human intelligence gathering from my Army intelligence days, could be the old examiner days that sound off alarms, might be prudent lending practices that made me so lucky, maybe all of it together just didn't give those types a snowball's chance on a hot stove of getting past me, since it never happened with my money or my client's money.

Probably related to higher percentage of self-published books.I'm a grammar nazi, my wife is a stickler for proof-reading, Josh Dorkin and Brandon Turner are both very intelligent, and yet, despite all four of us proof-reading my books, I still get grammar/spelling corrections from my readers.