They were a law firm who hunts class action suits to go against companies. 

To avoid that, set a firm, realistic budget from the beginning and make sure you stick to it.

Also I can start with 50K inital investment rest is financed & maintenance will be free for first few years is what he said.I have seen some very bad reviews for the old Clayton Morris firm but not many reviews for the new Josh Gilmore (josh@sdirawealth) SDIRA wealth firm.Has anyone done recent business (2023 or 2024) with SDIRA Wealth?

These should be reflected in the purchase price or negotiated as part of the terms, such as the seller carrying some of the renovation burden.Use seller financing to your advantage by proposing a price closer to $225,000-$250,000 with terms such as 20% down, a low interest rate (4-5%), or interest-only payments for 3-5 years, with a balloon payment once renovations are complete and cash flow stabilizes.If the seller is firm on price, consider negotiating higher down payment terms to reduce the financed amount, paired with interest-only terms or a price reduction tied to renovation milestones.Key questions to address include the condition of the septic system, which can be a significant expense if it fails.

I've never been so disrespected and found such an unprofessional firm, and I have property mgmt companies in 4 different states

You need a skillset that you can manage tenant's expectations and enforce the lease with a professional but firm manner.

Another focused on National Realty Investment Advisors, a New Jersey-based firm with a big Philadelphia property-development footprint that promises large returns to investors on national TV and radio ads.

I've been through situations like this.Hopefully the family pays rent and this becomes a non-issue.If they don't pay the rent, you need to be understanding and kind, but firm.  

I've done some preliminary due diligence (as the lender) and feel I have a pretty firm understanding of how it works.

Then you can read a more in-depth book like The Book On Rental Property Investing by Brandon Turner or The Unofficial Guide to Real Estate Investing by Spencer Strauss.You need to get a firm grasp on two things: the ways to make money with real estate, and how to find deals that match your goals.P.S.