At closing:The homeowner deeds the property to the straw borrower, relying on the false promises made by the ‘investor’All proceeds are used to pay off the defaulted loanThe homeowner walks away with nothingThe 'investor' pockets the equity and runsThe straw borrower defaults on the loanThe homeowner is evicted, loses the house and all equityThere are many variations of a foreclosure rescue scheme.

The program is $3000, and I haven't found much online about them.I started out investing in non-performing notes but having trouble obtaining those lately.Thanks,Nicole

I help facilitate out of state investors find performing rental properties in various markets in the Midwest/midsouth so I am going to be taking notes on the comments here! 

Based on the user research we've seen most use cash flow as a proxy for performance.

You're aware of historic performances and the metrics best used for evaluation purposes.

Most tools give you a glimpse of past performance.

We have a lot of 2-bedroom oceanfront condos under $350k that perform well. 

Some find renters and then look to sell if it is performing well and you have a good vetting process for your tenants.You should evaluate the various strategies before committing to a deal.

I'm not worried about their performance since I only loan on properties I'd be happy to own at the amount the loan was done for (and typically I'm loaning properties I sold so worst case, I get it back and my cost basis is lowered by their down payment).  

Since you're not performing the work, ensure the contractor has adequate coverage.