If there are any scams people have experienced or anything that I must have in the contract before starting.

Protecting yourself from potential scams or fraudulent lenders is essential in real estate investing.

No need to worry about them pulling a loan out from under you - that is where the term your own bank comes from.Plus, you get some asset protection with life insurance policies depending on what state you live.Some insurance policies can have high fees, it's not a scam like some regular whole life policies.

Now, I'm wondering if I got scammed and should close it or I should pull a loan out to buy real estate and then somehow see a benefit I don't see today?

Just trying to do my due diligence and not fall prey to so many scams happening and lose hard earned money.

I honestly think the expensive COPULUM is a bit of a scam and the specialty connectors and overpriced and no better than what I've done. 

YOU ARE BEING SCAMMED BY A FAKE LENDER  FULL STOP.NO LENDER PRIVATE OR OTHER WISE LENDS 100% AT LESS THAN BANK RATES FOR FIX AND FLIP.THIS WOULD ONLY BE REAL IF THIS WAS A CLOSE FRIEND OR RELEATIVE. 

I would under no circumstances get involved in this scam.

Exactly..... one of the biggest scams in history.

Hey Matthew,If you're trying to find contractors through Craigslist, I'd make sure to screen them THOROUGHLY before proceeding.You might want to take a look at this article just so you don't end up getting scammed.