Properties rented in distressed condition are an eyesore and the owner is not only milking his property but is also milking the neighborhood.

I only skimmed this thread so take this post as one partially informed of the debate.  

In great detail they will go over the rules pertaining to owner-occupied properties with respect to equity skimming, and how to avoid running into issues with them and subsequently the attorney general.And yes, it is a great opportunity to meet other real estate investors in your area.

He never asked for the extension and he's trying to tell us how to do it by just adding granite in the kitchen and skim coating the walls.

I don't want to be involved in day to day operations boots on the ground, so I need a larger community that can support staff, but again, I have plenty of friends who are milking the smaller community niche.

Account Closed prior to it being highly suspect and illegal here on the West coast IE equity skimming laws I did quite a bit of pre foreclosure rent back work... the deals were almost always made the day before the sale... and it was a mad scramble to get a cashiers check to the trustee.. we would hire couriers to hand deliver.. those in denial waited until they just could not deny anymore.. if we got one two days before that was a luxury. 

I milk them for the cashflow.Of course, @Ben Leybovich hate SFHs in some middle of nowhere towns in Ohio.

I’d start by skimming through the whole thing.In skimming this executive summary, here are the things that would jump out at me:Off-marketValue-addTrack recordStrong submarketProven modelEquity multipleUnit count

If you have the chance to do a preliminary consultation with this person, you could ask them to give you an overview of the home buying process in that area, local issues, what the current market is doing, a skim over what the contract looks like, etc.

I feel that a property needs to be staged beautifully in order to excel in the market so that is not the place to skim. in order to give a more accurate opinion I'd really have to evaluate the properties as there's so many variables, but based on generalizations this would be my evaluation.