I did not try to contact any of their current or past clients because I personally did not have the time and I don't believe any syndicator would reveal their client's personal information, anyway.

But to reveal all your options, it's best to have a more detailed conversation.Lastly it appears you are a sophisticated buyer.

So, it's a matter of if you want the deal after what the inspections revealed.

ARV 260k with <10k repairs.Monday: Scope revealed bad line, revised offer to 193k.Friday: Closed on property, went to put on the lockbox and found a note taped to the door.

You can listen to that here: http://joefairless.com/blog/podcast/jf82-house-hacking-tips-revealed/

Ask them open ended questions that will reveal the answer.

House was built in 2006Listed at $185kHas been assessed at $244-255k every year since 2007Property taxes ~$5,200Disclosure does not reveal any major issues with the house -- just missing kitchen appliances and railing needed on back deckGiven the spread between the list price and the assessed price (and my simple Zillow tour of neighborhood prices), it seems like this house could potentially be a great deal for me.  

A share that will almost certainly be LESS than 50%, by the way.Steve was suggesting that title searches on similar projects would reveal the names of the investors involved in those projects, and provide you with a list of people to approach.

Banks tell you what is needed up front and hard money folks are a bit less revealing  or up with information.  

John Berg:In some jurisdictions if it is revealed you did not pull permits {which will happen as it is part of your disclosure as a "professional"} an annotation will be placed on the title of the property and title will not be transferrable until any missed permits and inspections have been addressed .... even if that means reopening your walls because you missed your rough-in inspections.