Crazy stuff though, this industry never fails to amaze me with how shady it can be.  

In fact many properties being shopped around by wholesalers are actually just expired MLS listings (properties that failed to sell on the MLS) or active MLS listings under contract by a wholesaler. 

If you have no money, then those you are borrowing from are risking a lot more because you lose nothing if it fails. 

Most fail to take this last step, or merely obtain insurance certs where they are listed as a certificate holder. 

Granted it is unlikely to result in a home run, but it also is less likely to fail big and negatively affect prospects for years. 

The only lender that would take that deal is a lender that wants you to fail so they can take the deal from you.

Yes, you read that right, the American system was designed to best facilitate FAILURE not success. because when there is freedom to FAIL, it comes from consumers ability to choose, choose who is worth it, who isnt, and the poor performers fail and the good performers are rewarded. 

I observe investors dismissing so many properties that fail to meet this arbitrary standard but perform far better than properties that pencil as "1" properties" on an excel spreadsheet. 

Are you going under contract and then the deal is failing or are you offering and just not winning? 

His story was, he failed in business 2 times and figured it out on the 3rd go around. 3billion later i got to take a picture with him.I also failed 2 times.