I also when its someone new .. will google street view.. get the person answering the phone to describe what her office location looks like  or I will say hey is that a McDonalds across the street from you when I know its a burger king.. then the other thing I will do is make them recite some information on the hud that a scammer would not have access to.you simply cant be too careful.. millions of dollars a day are being lost in this manner. 

But nothing you described sounds like such a damage.

@Hong Gao that is a big if as to whether or not you can get it down that low and from what you've described thus far it may need more than $30,000 worth of work to make it flippable. 

Here's an article from CNBC and there are many similar .... describing an Atlanta treehouse as one of the most popular Airbnb's in the world.  

Am I way off base or has anyone had experience doing what I describe.

.  ;-)  everything I just described.

A slumlord describes the landlord who doesn't maintain the property up to building code and habitability standards, and who doesn't respond to tenant requests for service and maintenance.The location of the property, amount of rent collected, value of property, or income of the tenant is NOT what defines a slumlord.

We are here in Minneapolis and most larger properties CoC are a little better than what you are describing. 

The actions you described in "Getting around the rules" and "finding loopholes" could be prosecutable at most and are  unethical at least.

I think many professions have a leverage if they decide to become real estate investorsProperty management - as described by DavidAccountant - we understand Profit and loss statement, cash flow statement etcgeneral contractors - they will know estimated costs required to rehab a property.The rule is use your profession to become a real estate investor.If there is a skill that you are not an expert in - pay someone who knows how to do it better.