The prices in the markets we looked at i.e. troy, Schenectady and Albany all had great prices and rents were inline but kept coming back to "what if the tenant doesn't pay". 

In rural Idaho, it is much the same way. the counties have minimum requirements and if you keep things on the up and up, it should be fine.Now, in a historical district, that is a different animal all together.

Buy: $284,900Rehab: $115,000Holding: $16,500 Points: $3,413 Selling fee: $30,000Insurance hold: $2,000-$2,500 (maybe get back $1,000-$1500 if you close quick)Other title/escrow purchase: $2,500ARV: $500,000Profit: $46,587 (9.25% approx) I would do the deal, especially if you get that gap for rehab closed 3-4 months and tighten up the rehab costs too ($100,000)   Appreciate the breakdown!

It takes a lot of time to build up a reputation in the wedding/event space.

In the end, it may be the same amount of money or more, but it will just have to be structured differently as you navigate the shifting market.Northwest Valley would be a good option. 

Is all of the other stuff phony?

Get as much info as you can. get their bank statements see what comes in and comes out.

Jeff makes up repeated excuses and strange reasons as to why he can't/won't pay (i.e. family emergency, bank is rejecting wires, software/website is buggy, telling investors to go "f*ck their mother").I'm in a group with 30 other investors who were also scammed by him. 

If you sell directly to a homeowner, the issue can come back on you and bite you in the a...  

There are lots of benefits that come with a closed system than the downside of editing stages.