I ran across a company and business model that seems suspicious to me, and I'd like some feedback from the BP community. 

But I got suspicious especially that the guy I spoke with who says his name was John Mason couldn't provide me an address.

Income, minus expected vacancy loss / commissions / incentives = net income.Expenses: look at historicals actually spent (and suspiciously missing expenses you would anticipate). 

I expected that rental agency handle how to deal with and make him pay the rent, instead they are just communicating me that they are not able to get him pay rent.How can I get him pay last month rent, I do not want security deposit to be  used towards last month rent, moreover I'm suspicious that he may end up damaging the property, already carpet is messed up, wall are made dirty, i was hoping to  use the security deposit towards these damages, but now I'm not able to get the last month rent.

I think Brian is exactly right - your numbers sound suspicious.

A penny saved is a penny earned after all, so this makes home ownership look suspiciously like an income increase.You mentioned turning your home into a cash-flowing asset. 

That makes everything and everyone suspect and suspicious.

It was good that you found out but if it comes up again I would suggest calling her and if no answer or call back right away I would get suspicious.

One lesson learned here is that you probably shouldn't be paying for four appraisals without some guarantee that the loan would be funded or you would be reimbursed at least some of the appraisal fees.On the third appraisal, I probably would have gotten suspicious...

I certainly look at every deal presented, but I will admit that I am suspicious when I see a deal presented from another rehabber, for the reasons that Jason presented.