. * Don't allow financing or a finance contingency (it can be a good indication they are selling above market value)* Don't allow for your own independent property inspection* Are not realistic with their pro forma's (i.e. they don't include vacancy or maintenance projections or use      unrealistically low vacancy factors)* Require you to pay for any renovation upfront* Sell only in cheap. low end neighborhoods* Don't accurately represent the neighborhood/property classification* Don't have consistent rehab standards for all properties* Don't provide a scope of work for the property* Can't provide references of repeat investors* Require you to close before a tenant is in place

I've seen it develop tiny pinholes, emitting a fine mist almost too small to see, but big enough to flood your basement.  

Unfortunately, I have a very limited vocabulary (I'm a finance guy - I need numbers!). 

I have a finance/accounting background and currently works full time. 

@Kevin GarrityIt makes sense that lenders would only finance up-to 80% of a finance for a fix and flip since you are a newbie with no experience.

After you have completed this checklist, do a final walk-through to ensure all items have been properly completed.

Also, when you inquire about this, there is also a chance that the brothers never got a permit for the changes, (new kitchen, bathroom ...etc), so it could backfire on them as well as the town might want to investigate and hit them with a fine for not getting a permit.

On a final note, I would note that the relationship between the parties in construction is not a straightforward customer-business relationship.

I will say we have yet to view either properties in person so that will likely answer most of our questions barring a final inspection. 

And then the underwriter is going to go "um, manager, we got another Chris Mason special here..." and there would be a big meeting where they would make fun of me, reasonable chance they would even come across this very thread, I'll give it a coin toss on a final "yes" or "no."