A lot of hard money lenders have fake preapprovals you can generate on their website yourself in like 2 minutes.

During that conversation I told them that no contractor can promise they are going to be able to keep water out of the residence but they insist on still wanting the property.Again more weirdness me and the tenant had a big blow up argument a few weeks back around me waving rent which I decided to do during this whole fiasco I did a lot of digging and found out that she lied on her application with how much rent she is paying at her current residence with her landlord. 

So far after pulling comps the numbers look very promising if I can purchase it for the 25-30k price range, another 25k in rehab, and the arv  is between 85-90k.

Morris Invest is not what I would consider a true turnkey company even if they were operating as promised (which they are not - just reference the many and extended threads about them here on BP).  

As real as it is fake.

Doesn’t sound very promising and the numbers are nothing to get excited about 

keep in mind fake lenders are the new Nigerian prince scam of real estatethere is no private money that is less than about 10% apr.. bottom line.

Fortunately for me, my amortization schedule at closing had the PMI dropping at 78% LTV and my bank promised to honor that however they won't let me re-appraise based on MV as I mentioned.

I could use some guidance here.I'm looking at a scenario and I'm new, so any ideas or inputs would  be great.I know a guy ready to give his house over to the bank because he is going broke.I'd like to try and buy his house for a great deal and make it a rental and I'm trying to think of the best technique. since Interest rates are high right now, I dont wanna open a new loan and get locked in at a high interest rate on a potentially long loan. so I was thinking about that promissory note idea. where I promise him to pay his loan payment and it stays in his name, assuming he has a better interest rate than what I could get. any ideas on that tactic?

I had $40k in capital and still ended up doing some creative financing b/c the hard money lender hit me with an 80/20 instead of a 90/10 as promised.