May have to fold on this deal and move on.  

I'm assuming he brought the guy into the fold (but maybe not).  

They never got the appreciation they where expecting, and finally had to fold up their cards and go home.

Because I don't know a lot about real estate as an "industry", I am not completely aware of how this could benefit me.So, my question is two fold...what kind of help can I get from a mortgage broker.

They can sort/fold in their apartment.

I think it is important to create an LLC. before you buy your rental property as what you save in taxes and filing/lawyer fees you will lose 10 fold should you get sued.

@Charles Borrelli to bring more clarity to the conversation, the two affidavits were different, the one from the bank underwriter was two fold, it covered the OO financing rate and the OO required period, the affidavit from BofA was strictly covering the 60 day and 12 month requirements.

Eat up his time and money, he will fold.

My property management company emailed me and said they are folding and will cease to exist in 2 weeks (no big loss, they were a nightmare). 

Of course, if I incorporated first and made the corporation the general partner, then I would need to give out a T5013.The reason I'm looking at this is two-fold. 1: I need $$$$ to really get going, and 2: curiosity.I'm looking at a small pool of people and a small pool of money - 10-20 and $100K-$200KSo, my questions:- Am I following this right?