Not picking on you but there ws some homework you didn't do along the way and I would bet he was not the most expensive guy.

With any ARM, you're betting rates won't increase, yes cash flow can be better, so long as rates remain stable, but if not, you can be underwater.

ARM's can make sense if you're a flipper where there is already a very short holding period and a significant holding risk because you're betting on the market being there when you sell.  

I bet the listing broker (who owns my office) a bottle of scotch that it wont sell for $40k or above.

I have experimented with a red "confidential" stamp.  

Jay, I'll bet you could take a Newbie who is willing and able to work at it and show them The Way and make it relatively easy for them to get there, because you have, "been there and done that!"

Reusing it will save you money but you will need more than what you already have I bet. 

Community, local, and regional banks will be you best bet to avoid looking at your global cash flow.       

Greenville NC and Wilmington NC, both small cities with decent job markets, would be your best bets. 

I agree, Lawyers is investor friendly and your best bet.