Come on Collin, your Gatlinburg brotha, at least try to make this hard on me. 

We consistently produce over $70k in net income and I distribute this to support my family.Long-Distance REI: I am looking to invest in long-distance cash-flowing SFH in growing C-Class neighborhoods.

You really need to talk to a tax advisor in this situation.

You can also listen in on Rob Abasolo's Youtube channel (Rob is one of the recent Bigger Pockets host) and you will learn a lot from him.If this group offers an opportunity to invest with them or their properties, then it may be worth the price. 

Maybe someone knows all about this. 

What penalties are normal for this type of partnership?

Any telephone conversations, correspondence submitted via US mail fall into the categories of wire fraud and mail fraud.Without the permission of the mortgage company there is no way to legally do this.

Again, this is just an example.I probably would not recommend you buy single family homes if you want to replace your income.

Any other pros or cons to this method of investing for at least getting started? 

Plus, they can give you the lowdown on the whole process and help you every step of the way.You've got this!