Bottomline these type of properties usually require an exceptional amount of care and a long distance investor is just not going to be there to give it that care and in most cases a management company will not have the time to devote to it.  

Im trying to do my due diligence, however when i Google them with the word scam like the posting suggest nothing comes up.

You need to talk him through it and make him feel comfortable, especially since there are so many scams out there.  

Also, I strongly suggest that you check the Ultimate Beginners Guide:http://www.biggerpockets.com/ubgYou might also find the Podcast interested, especially as they have a few episodes devoted to beginners.

All the the mentors are asking for alot of money to show you how to get started, I think it is a scam for money. 

In regards to your last few sentences, it is my opinion  (developed over the past 12 years) that there are far more investors out there who are strong buyers and they have NO DESIRE to develop the skills listed above and are not going to devote any time to actively investing in real estate.  

Why don't you show the bank your bank statement and tax's returns and verified income you can make the payments, and then they might help you, but you're coming in wanting to take over a property without any of your funds in the deal the bank might think there is a scam in the works?

I also don't have the time to devote to being on-site all the time like I was with this flip.

Kris Haskinshttp://www.biggerpockets.com/forums/52/topics/140802-craigslist-scam-finally-got-me-good?

My devotion would be marketing, finding leads, making offers, and makeover rehab work.