Remember, the notion of amassing wealth without investing is a dangerous myth perpetuated by self-proclaimed experts.

If you were looking at buying in Florida, but your lender is in NY or California, they dont really have to be as concerned about their reputation because the realtors (most likely) will never work with them again. #1 is the primary reason, but #2 does factor in as well.

I'm more concerned on if it's going to be a good deal or not.

Mortar, paint & bonding materials deteriorate leaving cracks, gaps, etc. which can be concerning to look at, but this is very often addressed with repointing.

Sharing your concerns can help others learn and overcome similar anxieties.

Please see my earlier response to address your concerns.

I am concerned that it is a ponsi scheme.  

Now there is danger in that of course 1. you can miss something  2. when you go to resell if the title companies representing the bank or new buyer dont know you and they are not title company prepped deeds they may refuse to insure the next transaction as they may think the risk of title fraud is too great to take it on.  

I have some lined up but will need more so I appreciate all the feedback/concerns as I start to shop it around. 

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