Just a reminder, stating income on an application that is false is mortgage fraud.

(false info goes in, false results come out).

They were always late, had dogs, chickens, painted rooms absurd colors, and got paint everywhere. 

True or false? 

Even at a $30k net profit return (which is the average return for most flips) I think it's absolutely absurd to put half a million dollars on the line for that kind of a return. 

Please also be wary of "advice" here that sounds a lot like housing discrimination against section 8 tenants in particular.Doing your due diligence about any and all applicants is a good way to avoid being "seduced" by a terrible tenant who "seemed so nice", as much as it prevents you from rejecting a great renter with a great track record, who may be falsely stereotyped.  

It would be absurd for any contractor to come into a deal to manage the repairs and then split the "profits".  

There are often people on BP who make false claims and have false titles.

However this isn't a good flip opportunity since they want $250,000 for it (which I think is absurd with the amount of work that needs to be done).

And to accept a false premise of doubling taxes over 10 years is not a good premise on deciding where to invest.