I am not buying lottery, i am investing. 

Early last year, one of our borrowers, an extremely experienced rehabber who had recently been diagnosed with diabetes, informed us that he’d been in and out of the hospital so frequently that he wouldn’t be able to complete the flip we had loaned on as first position lenders.We were aware that he had borrowed an additional $110k from a second-position lender.

As it turns out, that information was not accurate.

It's a competitive market and most of the people that get in trouble here are ones that buy blindly without actually figuring out the numbers, etc.You'd be surprised the number of times I get asked after month one if their electric bill of $xxx or whatever is normal, and the thought running through my head is "how did you not  check things like that before you committed half a million dollars to something?"

While she is not entitled to my income information, she is entitled to his every year.

After I was informed this, I pushed the wholesaler hard as their was no contingencies and I was pushed for a 10 day close.

Would this be a good opportunity for someone looking to buy/hold? 

Make sure to verify any information from a party that doesn't have any advantage of you getting their services before making a decision.  

Your best route might be to buy a 2 to 4 unit property that you can live in and rent out the additional apartments.

Welcome to the community and be ready for a huge amount of information at your finger tips.