In theory, PMI shouldn't be necessary if the underwriters gamble on the right applicants.Of course things happen.  

Please do a web search of “Capella Mortgage Fraud” as investors are posting about potentially fraudulent deals Capella originated.

I used to gamble and was pretty good at it, especially blackjack  / 21. 

And, how not to use them in fraudulent manners.Appreciate your insight!

Unless the agent is an idiot, or acting fraudulently with his seller, you're not getting a contract for $68k If others are wanting to offer $85k.  

In every project someone is taking a gamble.

Of course, you can never wait until you have everything, but it seems like there is significantly less one has to work with before starting real estate investing, making one's attempt feel more like a gamble than a calculated risk....Or is there?

I joined this site just recently, upon my decision to turn my passion for real estate into a serious business. I found a great deal and developed a sustainable business plan, I found myself in front of the major step:...

My lender recently notified me that freddie mac & fannie Mae guidelines have changed that don't count gambling income as "income".This puts me in a bad position as I want to invest in more homes, but without getting financed I'm limited on what I can do & at this moment I don't want to change jobs because of this change.

@Derek Daun LoL, I was stationed in Las Vegas for 5 years and I always compare insurance to gambling casinos....you give them your money and they never have to give you anything in return.