Likely I am taking a slightly different path but I can not put my finger on exactly what was different.Can we get a technical description for what is going on and how best to avoid it?

Like a CRM (Customer Relationship Management) system I can organize my contacts and my communication in a way that makes sense to me rather than having to search the forum for something that I think might have been said by someone.Most people do seem to be using the profile section to provide a description of what they do.

The forum titles and the descriptions provide some ideas of the different ways people invest.You can also find many books on almost every variation.There is no rush to pick one specific model.

.- Description: I'm not a huge fan of the written description.

If the statutes do not address your question, then the case law very well may give you the answer.3) make sure any case law answer to your question applies in your jurisdiction.Note about jurisdiction:Jurisdiction means a certain geographical area (for this conversation anyway - there are times when jurisdiction doesn't refer to geography.)The size of the geographical area depends on a number of factors.

For what it's worth here are my observations.........1- 80% of the information on investing in real estate being sold ranges from totally worthless to incorrect and or possibly illegal2- another 10% might work under some circumstances but either the recipient of the information needs a much more educated and experienced background than he is led to believe or the circumstances regarding the success of the method being sold are limited to a certain geographical area or a certain type of market3- the 10% of information that has value requires work, dedication, persistence, education to be used successfully.4- Certain types of individuals can self study utilizing free information available online and learn as much or more as any program or course will teach them5- most gurus are not currently successful using the methods they teach; they may have once been successful in a particular type of market or in a particular location, but they are not currently utilizing the method they teach successfully.

Why would LA not be a viable geographic location to wholesale houses?

From that description, it's also not impossible that the gentlemen you describe was not simply interested in deterring you from attending future auctions.Think of who has more of an interest in the actions taken, a "bank representative" who has completely wasted his time at the auction, or your competition trying to eliminate you.Also, I'm curious as to why you say it was clearly worth more than $500K when no one bid on it.

Are you geographically mobile?

Looking for opinions and discussion.Here is the description:22 Units composed of 8 - 2/1.5 and 14 - 2/1100% occupiedMonthly Income = 11kMonthly expenses = 4kNet Monthly Income = 7kAnnual Net Income = $84,000$925,000 price makes cost per unit $42,000Located in Central Valley of California As I said before, looking for other investor opinions and discussion on why you would or would not consider a deal like this.Thanks!