I know this isn't a get rich quick scheme, and I know there are some pitfalls of going into business with coworkers, but I basically just need advice on how to approach this and what questions I should be asking.

Taken to an extreme, this is actually more or less the definition of a Ponzi scheme (a scheme in which a continual influx of new money is used to subsidize earlier investors).

In my experience it seems like Real Estate is almost as hot of an investment class as its been in years, second only to Bitcoin/Crypto Currency, this creates its own unique set of issues with the newbies looking for a get rich quick scheme.

But it won't bring $110K and you won't be off the hook.So, with this little scheme, you pocket $15K, trash your credit, have an outstanding judgment for $70K.

Don't fall for somebody pushing a get rich scheme.

http://www.mtgprofessor.com/A%20-%20Early%20Payoff...Seems like a scheme that makes you think a paid off property is a good thing.

ViewItem&ssPageName=STRK:MEWAX:IT&item=270415702714It looks pretty good and I wouldn't mind doing a few repairs and repainting the nasty colour scheme, if it needs it.Am I looking at the right aspects of buying a house to fix up and rent out?

@Ann Bellamy ann another great point as lease credit towards dp was a big part of the equation for that scheme

If you treat your venture as a steady progression towards wealth and not a get rich quick scheme, then you should be safe.

@Chris Seveney my grand scheme is hold forever, but the sell option would give me a good bit of comfort.