Banks are wise to the scam "POF off the internet thing".  

To be honest, I REI is not easy at all, especially on the creative side (because most sellers are scared as a result of scams and/or brainwashing by attorneys, CPA's, realtors and even churches!

There is a lot of room for scamming. 

It is a Brave New World in foreclosure investing.See GA http://dbf.georgia.gov/foreclosure-rescue-scams

Unfortunately this is uncharted territory for some real estate investors, and for this reason, loan scams are quite common in the financial services industry.

If at the 11th hour of my decision making on the first deal I had not listened to my gut or simply gave myself an excuse not to bother him I would have paid dearly.The best contacts will come from the most unsuspecting conversations so make sure you tell everyone what you are doing and talk to people everyday.

Then they move on to the next unsuspecting landlord and do it all over again.

She said she thinks its a scam.  

My dad's GF gets a phone call, she can't understand the guy and gives the phone to my dad.Hello, sir, I am happy to inform you that you have won the contest at Down Stream Casino and you have won $950,000.00! Are you ...

I have a feeling it's mainly being referred to as the scams that go on there and the people who take advantage of new investors.