(The 100 people is BS to illustrate a point) Just because I buy a house under market doesn't mean I am acting in an illegal manor or an unethical manor.

But as the above example illustrates, you can blast through lower limits without ever doing anything wrong.

I would suggest asking for bank statements or pages of tax returns that illustrate the actual property profit/loss and actual rents paid.

Allow me to illustrate.

@Brie Schmidt   correction  I know you already started your empire congrats on expanding it.I just wanted to illustrate how important it is to have the three C's if your going to succeed and build a portfolio using the best rates and terms.. you Need Character ( banks look at this these days don't think they don't) Credit ( obvious and you need stellar credit ( walk from bank loan and your toast) and Capacity ( need to prove that you Actually make money in the industry have reserves and can weather some storms which we all know every day is not sunny).

It's showing up in a lot of the contract.Anyone know a good explanation or example to illustrate the following?

I could be wrong he might have been talking about someone else.Us old dogs this just brings back the days of GP deals gone south.. or Syndications however you couch it... it also illustrates very clearly the risks of investing in Low end rental homes no matter were they are at..

Again, the illustration on my previous point outlines how this is not safe.This doesn't have to be the last word; my eight years of experience in the real estate investment/rental industry pales in comparison to what many others on this board have.

However, this does illustrate the disconnect that can exist when you own a property long distance; have a bad manager; and you don't adequately manage your manager.

The document is a pre-application document used to illustrate estimated loan costs.