Here are 3 tips for avoiding popular lending scams:1.Run away from fee collectors: A lending scam is usually present if high, upfront fees are paid directly to the lender.2.Obtain references from the lender: Although real references are hard to verify, always ask for references from the lender’s clients.

To accomplish this they may make you tear off all of the int. finish to verify it was built to code. problems as I see them.

Asking price $399,000 - no obvious needs for repair (would need inspection to verify).

I'm an identical twin, and had a GREAT time with it growing up.

I'm looking to verify a conservative ARV.

You are being too focused on credit score for one who has prior renting history; in such a case, mid 500 would be OK IF the prior payment to other landlords was always in full and on time (and you are able to verify that).The real problem here is that these two have never shared a place together before.

You need to verify all of the expenses.

But I'd be grateful for advice from someone with more experience.Here's an example property:4-plex, 2bd/1ba unitsAsking Price: $170kRental rate at leasing office (other identical units) is currently ~$575/mo.Realtor summary shows estimated gross income at $28k/yr, estimated NOI is about $18k/yrBoth property and the community look to be well maintained, HOA appears healthy.Some readily apparent risks:*With 25 other identical buildings, it may be competitive to find tenants.

Just screen the tenant as well as any other and verify their rental history.

Not just with secondary loans but any loan, people have different sources of funds to verify and look at, telling a salaried professional to bring in 3 years tax returns will turn them off.