I'm not interested in ripping off anyone or doing anything shady.

He means that some properties are not in financeable shape like there is no stove, the kitchens are ripped out, health & safety issues, mold, the bathroom is not operable, etc etc.203k is a rehab loan program for FHA that combines the rehab money and the 30 year fixed FHA loan component into one product.

- RIP OFF !!! 

Home had to be ripped down to the studs!

Calling someone an "employee," but putting them on 1099, and paying them the same as what W2 people with benefits get, is a huge rip-off that many Fortune 500s, as well as smaller outfits, perpetuate.

I look at it this way, if I had a hundred dollar bill that got ripped into two pieces, I would tape it together and fix it, maintaining the value of my asset.  

Dishwasher stopped working, he says, but when I get there I realize he somehow managed to rip the front pull handle and control board off the machine and broke the plastic. 

I can see why wholesaling dominates that end of the business.. because these guys can charge 10 to 20% and buyers could give a rip if it meets what they will pay.. but let a real estate agent charge more than 6% and every one screams like a stuck pig..

Going off of what was previously said i seriously think you just got ripped off extremely hard. 1 why did you pay cash for a house and not do financing?

It exposes some very questionable tactics in your business model (if you can call it that), and bragging about almost ripping off an elderly widower through the unlicensed practice of real estate does not paint you in a positive or professional light.