Quote from @Christine Gordon: Quote from @Roi Azoulay: This firm is known to advertise fake distressed properties all over NY and reach out the the actual owner w/attempt to get listing agreement, Unfortunately they are still active and keep doing this for many years and no other website/mls does anything about it. 

I think the offering would have died in the lobby floor if attempted as equity.

HCD would likely squash any jurisdiction’s attempt to remove or limit a safe unit.It is a good investment to get the unit permitted especially if it is close to the quoted price. 

Which is to say any attempts beyond the method of communication in the profile are likely to end up convincing the landlord you and your friend would be a pain in the butt as tenants. 

@Gary Bonds owning a few rentals is not a business at least according to my accountant, Best to attempt to qualify using your personal income.

Dave, I tried this with my 3 mortgages (attempting to move into LLCs on my attorney's advice, he also said to request written permission) but each lender only would give me a form that you fill out AFTER the fact, notifying them that you have done a transfer.

Not only is it the right thing to do to help them get their legal ducks in a row about knowing SPECIFICALLY what the seller did wrong, ie did not disclose and can prove it was done for the sole purpose of deception to make the sale "smoother" but it can help you look good and have you learn how to avoid in the future (as you say "tighten up your due diligence")It sucks when agents "help" 1st time or largely inexperienced buyers long enough to make the sale and get their commission but then peace out on the client when something like this happens.It It seems like you are attempting to do the right thing which is admirable bc at the end of the day, the court system is the closest thing to a "business police" that ppl can get. 

At first it is going to be uncomfortable, but the more reps you attempt the better you get and the more comfortable you will feel.

That's why many businesses just close instead of being sold.Real estate investing provides a lot more creative angles than the stock market, but on a conceptual level, nobody would seriously attempt to replace their W2 income in a few years by investing a few thousand dollars in the stock market.

i haven't read your book, but i've listened to all of the podcasts you've been on, and you talk about the importance of the character of GPs.