Let’s be honest, I’ve watched folks who jump into this game as if playing roulette.. firing off offers on duplexes in Phoenix or leaning on some “sure-thing” house hack in Austin without ever sketching out their plan.

Period.If he keeps playing games, I would a) walk away from the deal, and b) report him to the State RE Board.chrome-extension://efaidnbmnnnibpcajpcglclefindmkaj/https://www.ncleg.gov/EnactedLegislation/Statutes/PDF/BySect...

Many sellers will not accept this since they are in second position, and it is very risky since if you default (higher probability for investors with no money and/or no skin in the game), they will most likely be wiped out during a foreclosure.

I live in derby and new to the real estate game.

I personally like one sponsor who has been through multiple real estate cycles without losing any investor money, puts very large amounts of skin in the game, is conservatively leveraged and has a very good 1031 exchange program.

I'm always game to chat real estate.

And answering your phone calls while watching the games does not turn your living room into a home office.

That’s a game-changer when it comes to flipping profits.Your scenario reminds me of a client I worked with in San Diego who flipped a condo after living there for a couple of years.

The fact of the matter is that real estate is a long game and expenses will come up. 

A review of your offering documents makes clear that investor money is considered game for any purpose.