However, you have to remember that NYC is city for 2nd, 3rd, 4th homes for the uber rich, and as we've found out -- many billionaires from China, Russia, [used to be] Brazil, etc were just simply parking their money in these condos NOT to live, but rather to hide and hedge their currency from their government, who could confiscate their bank accounts in an instant.

I would say that it's quite possible to make money passively with B&H  the better question is how did you find a 36k home with an ARV of 105k (or roughly 3x the asking price)It was hiding in plain sight on the MLS, along with a dozen others.

There is no need to hide the IRA and the bank will see that at some point, but you do not want to start there as that will confuse the banker.The bank is not dealing with the IRA. 

Many times they will claim it's wonderful and then try to hide their worst deals by only showing completed deals.

Sub is not treatable as they hide 6 ft below ground and tenting only kills ground termites. 

To me, when you are trying to hide things from people in a transaction, it already starts to seem like it's getting into the "fraud" area.It may not be fraud - I'm not an attorney - but it doesn't give me a good feeling and in 95% of the cases the same thing can be accomplished with an assignment and all parties being on the same page at closing.In particular, I would never, ever do a double closing if the end buyer is using a bank loan to purchase the property (unless you yourself are going to fund the first transaction).Banks can and have worked with law enforcement to find cases like this and prosecute people, and people have actually gone to jail (yes, in Rhode Island, and yes that has included attorneys involved in various mortgage fraud related schemes).For some spine chilling reading, for example, see Providence lawyer, five others charged in alleged mortgage fraud scheme.

Do you think they are some how conspiring and hiding the fact that they are a real estate agent.

@Greg Scott haha yea my background is clearly in finance, no hiding that! 

They'll hide behind, "We tell you up front that you've got to put in the work." 

Many times they will claim it's wonderful and then try to hide their worst deals by only showing completed deals.