I also heard Brett Immel was still doing business in Iowa, though I read an article that says he has been busted for lying during a bankruptcy hearing and may go to prison for 5 years.Would it make sense to contact the S.E.C.?

So either you’re going to ask them to lie or you’re going to overpay.

I canceled because of on going lies about progress on the houses. 

I sometimes wonder if it makes sense for all of us landlords to confront them, they sold us a lie and now we are severely struggling from it.

But ultimately the responsibility lies in my hands.I jumped on a seesaw of risk hoping that the momentum would catapult my bank account into six figures only to find out the hard way that flipping houses isn’t as easy as I had predicted.This house was purchased for $64,000 with an expected rehab of $100k to $120k depending on how much work the dilapidated and neglected house needed.The midwest is lovely but the houses carry the weight of weather storms nearly a century old leading to more damage than a beginning investor could expect.The appraisal came in at $225k for my lender meaning our all-in cost would be around 85% of the sales price worst case.

Ok I lied, I also have accounts for tenants security deposits but that’s just a set it and forget it until they move out.

Don’t lie to the seller.

You do not want to lie on an application, that is mortgage fraud.

Apparently, it was all a huge lie.

In some areas, I find that the information is exaggerated (applicant lied) to make their application look betterHere's how I use them:  A lot of times, the applicant will self report information that disqualifies them.