We have encountered companies which will not underwrite knob-and-tube or aluminium wiring {which can be perfectly safe}, but never one that refused paper/fabric-covered wiring.What does your insurer classify as "fabric/cloth covered wiring" {I cannot really see the pictures closely enough).  

I was scammed by someone who I thought I had investigated well but later realized too late that they were not to be trusted. 

Adding a scammed contractor knocked me out of the game.

If it's occupied, then yeah you're getting scammed. 

Cap rates come from closed sales that are analyzed by an independent professional third party.Crap rates are fictitious numbers made up by clueless individuals trying to scam newbie investors.There is no reason for you to be trying to calculate either.

About a 18 months ago I put a property under contract and assigned it to a private money lender who purchased it cash. He also paid for the rehab.

The plan was to rehab it buy it with traditional financing and rent i...

You might try pulling this same scam on some of the frauds promoting this type of operation.

@J Scott  HOA s  are an important part of the due diligence.what I have personally encountered since the melt down.. is that the HOA's were never really formed other than the CCR's recorded.. developer ran out of money.. home owners never had a turn over meeting.. so its a rudderless ship.I built some homes over on the Oregon coast that was like that.. there was and or is a HOA but no one is running it.. so no one to talk to about design criteria.. and out our way . 

They thought it was some kind of a scam as did my siblings.

Then, after taking in all the guru stuff, poor information, bad advice and note scam adverts, go talk to a finance attorney, if you have money to buy notes you have money for a good finance attorney.