The appraiser basically pretended all the work was done already and appraised the house accordingly.

That way you could check in on the way through if you needed to but pretend that you can’t when setting up your team so the systems you put in place don’t depend on you being there.

@Laura Sciarrino You have now had your first experience with a Wholesaler, pretending to be a Buyer.  

I called them multiple times pretending to be a renter and all market rates were quoted and didn't have any immediate availability.Thanks for your honest feedback.

What credit repair companies do is basically pretend to be you and dispute your past accounts. 

Don't pretend to know how things work simply because you've listened to some podcasts and read some forum posts here. 

I almost never fall on the side of government regulation for anything, but even I have to admit that I understand the reasoning behind these laws on the books that are intended to prevent the pretenders from playing in this end of the pool.It is a lot easier to work with houses in physical distress, than it is homeowners that are in financial distress.

Once the property was acquired and rehabbed by the Investor Partners who set up the "Credit Partner," the deed would then be transferred from the "Credit Partner" to the LLC of the ACTUAL Partners, $10k would be given to the "Credit Partner" and that Credit Partner's role was ended.This was FAIRLY common and all kinds of people, from Mom and Pop to experienced Real Estate Investors had conducted this.Most people believed that Credit Partners was a win-win for everyone.The problem here was that the "Credit Partner" is an illegal STRAW Man, who pretended to have the intent to own a property for his own use only to defraud a Mortgage Company.But this was fairly common practice and was done ALL THE TIME.When the financial crisis hit, the major players who ran this scheme was put in to jail as the Investors lost money from their properties.

Our gross income on this property with those rental rates will be $60,000 and let's pretend that our expenses over the year were $5,000.00.

The only profit in the deal is IF the value goes up (which may happen but what if it does not happen - let's pretend it's 2007 now and a lot of people told you, the price will go up)If it were me - NO, I will not buy it.