The poor broker who gets scammed is not only out a lot of money but their reputation is going to suffer big time as their borrowers info is now all out on the Dark Web..

The biggest thing that frustrates me most about the guru's is how most are not transparent about all things notes, yet they send post after post on LinkedIn or FB wanting you to watch a Podcast or something else about how much money they made on notes to get you sucked into their web. 

For starters, the prospect passes our 3.5x income requirement, has a 700+ credit score but a few things that I seem to have trouble with is the management company that was on the application, I wasn't able to find any viable information through regular web searches, but through the Business public record I found an LLC to this management company which I found was created 5 months ago. 

Boom, you are now a real estate investor.Oh and definitely build a corporate web of at least 5 layers of shell companies before you even begin thinking about buying a property.  

Learn to crawl before you walk before you run.

@Sam Peterson You can utilize different online companies (web, phone apps, etc.) for this but if you're new to REI you could gain traction by making your own.

You have to learn to crawl before you walk & walk before you run.

A net worth tracker is a web-based or mobile application that tracks your assets and liabilities.

Web sites that have been making recommendations for years suddenly claim it is AI.

the homes were selling for 120 to 160k  at that time .. same homes sold for about 20 to 30% higher a decade before.. then as we know Detroit had one of the great crash's and just like your buddy at 3k a home many of these homes went down to the teens etc.. and have just been crawling back I dont believe the values have ever gotten back to their historic peak.. maybe one day.. but not today..