I've lived through two of them and prospered greatly in the first-oil market collapse in the '80s, and survived handily during the second-investment banker's scam of the 2000s.The first time I paid cash I noticed the first benefit at closing when I looked at the HUD-1.

Almost daily I see properties posted in the BP Marketplace and many other REI platforms with terrible deals and a ton of people asking for additional information or expressing interest to buy, and when you look at the profile of the interested party, it's a new investor trying to accumulate doors quickly regardless of how bad the deal is.I don't blame the scammer alone, I also blame the scammed for investing while uniformed.

Unfortunately, there are many scammers out there, I have seen this happen before, some scam artists come to areas such as California, where the prices for real estate are very high and push those properties with inflated prices.

Throughout the process I found myself critiquing the agent (just in private thoughts) on how I would have handled each hurdle we encountered. 

See if you can get some calls going to local brokers to get a better understanding of the market and the properties you will encounter.

But, I have made many mistakes and I want everyone (especially those starting out) to learn from my mistakes and the obstacles I encountered throughout this process.

LOTS Of fake lenders work BP  face book linkdin etc.if you cant find anything on them I suspect you may have run into a fake.the telling clue will be1. rates too good to really be true or lower than industry norm2. too quick to approve you..3. they want a modest deposit up front and give some BS reason why the want it.4. no website ( although many fraudsters have generic websites website alone does not mean anything.5. check on licensing.. there are only about 12 states that require licesnes. not sure about our state thoughBut I would say 95% if you cant find anything on them.. and any of the things I said above are what they are telling you,, cheap rates small up front deposit.. probably not real and you will just lose your 500.00 bucks or whateverOh the other great one is you have to buy an insurance policy because your new or a little weak on the financial side.. there are NO insurance policies for private loans if you fail to pay.. that's just another fraudulent payment to a non exisitant entity.real estate lending has become the new Nigerian prince scam..

What have you encountered?

Are there resources I can look up to see if i can wait and enact new leases that include tenant paying utilties and what legal issues I may encounter there?

I’ve told my mother and other friends about this ad, and they’re worried it might be a scam.