Quote from @Angela Matambo: Quote from @Travis B.: Hey Puneet, we should connect.

But still it is illegal i think b/c of the door or maybe ceiling height.  

Defaults and Remedies A default exists under this note if (1) Borrower defaults in the payment of this note or in the performance of any obligation in any instrument securing or collateral to this note; (2) (a) Borrower or (b) any other person liable on any part of this note (an "Other Obligated Party") fails to timely pay or perform any obligation or covenant in any written agreement between Lender and Borrower or any Other Obligated Party other than as described in (1) above; (3) any representation in this note or in any other written agreement between Lender and Borrower or any Other Obligated Party is materially false when made; (4) a receiver is appointed for Borrower or an Other Obligated Party or any property on which a lien or security interest is created as security (the "Collateral Security") for any part of this note; (5) any Collateral Security is assigned for the benefit of creditors; (6) a bankruptcy or insolvency proceeding is commenced by Borrower, a partnership of which Borrower is a general partner, or an Other Obligated Party; (7) (a) a bankruptcy or insolvency proceeding is commenced against Borrower, a partnership of which Borrower is a general partner, or an Other Obligated Party and (b) the proceeding continues without dismissal for sixty days, the party against whom the proceeding is commenced admits the material allegations of the petition against it, or an order for relief is entered; (8) Borrower, a partnership of which Borrower is a general partner, or an Other Obligated Party is terminated, begins to wind up its affairs, or is authorized to terminate or wind up its affairs by its governing body or persons, or any event occurs or condition exists that permits the termination or winding up of the affairs of Borrower, a partnership of which Borrower is a general partner, or an Other Obligated Party; or (9) any Collateral Security is impaired by loss, theft, damage, levy and execution, issuance of an official writ or order of seizure, or destruction, unless it is promptly replaced with collateral security of like kind and quality or restored to its former condition.

The complaint further charges ORES, Van Gundy, Trofimoff, and Kidd with violating the antifraud provisions of Section 17(a) of the Securities Act and Section 10(b) of the Securities Exchange Act of 1934 (Exchange Act) and Rule 10b-5 thereunder.

I'll add that for the cash option, you'd need 8-10% cap rate properties which, even in the Midwest, will likely be older Class C/B- product where there is greater risk of higher maintenance and delinquencies versus newer/nicer builds.

The search function leaves much to be desired, but you'll do best searching "FlipSystems" as one word:https://www.biggerpockets.com/forums/79/topics/1182640-lesso...https://www.biggerpockets.com/forums/67/topics/1204806-seeki...https://www.biggerpockets.com/forums/48/topics/1098187-flips...https://www.biggerpockets.com/forums/79/topics/1188268-flips...https://www.biggerpockets.com/forums/92/topics/1181695-is-fl...I admittedly have not read every reply, but it seems like a sea of red with "Amy B." being the only positive sounding reply on this thread: https://www.biggerpockets.com/forums/67/topics/1174732-calli...Is that the person you spoke to as a reference that's his girlfriend?

@Phil B. 

I have seen it happen maybe 5 times over the years and directly involved in 2  .. the one I mentioned that I bought the first after the second was bought and another were I was bidding but got out bid B/C other bidder did not know about the first.In the its a Small World category..

Quote from @Bill B.: You have a kick butt deal, if you generate ha;f the cash flow you’re planning on you’ll be ok.

You're barely doing new carpet, paint and replacing some doors on that budget.The issue (at least in DFW) is that B class doesn't lease at all.