These two things alone were enough to back me off but then the real kicker was when he told me that he had spoken with other rehabbers who passed up the property due to the inspection revealing the foundation was bad.This house is probably best suited for demo.

But you'll find a variety of every type of investor on the site, and everyone is amazingly helpful.

But you’ll find a variety of every type of investor on the site, and everyone is amazingly helpful.

So I think this is not a big deal.I thought I would ask Bigger Pockets for clarity as I didn't want to ask the lender and reveal my ignorance..Mike

Anna wanted to buy a $170K property for $20K because the guy bought it for $8K ("...my information comes from the County Recorder and there's no flaws coming from there...") but revealed later the purchase was in 1980 and the owner has (allegedly) not performed deferred maintenance.Anna would create the crisis by notifying code enforcement that would make seller accept her offer with the logic "would he rather take the $20,000 - $40,000 cash offer or deal with Code Enforcement and all the fee violations and or including losing out on the property all together?"

Sebastian,The fact that your friend has been able to obtain several mortgages with low down payments revealed that not only he has committed mortgage fraud, but he has also not reported the rental income.

I have been using the site to educate myself on a variety of subjects over the last few years and am now ready to develop my network and make my first deal.I have been renting in Syracuse and am now looking to purchase a 1-4 unit property.

Georgia as you know is a great market for a variety of reasons.First you need to look at do you want to be an ACTIVE investor or a PASSIVE one??

While you mention there are no points, perhaps there are processing charges or something similar which would be revealed in the APR.

Many subtle things can be done that lets people tip their had to you without you revealing yourself.