Wish I had a cleaner answer, but everyone is going to want you to have skin in the game. 

They don’t have skin in the game.

I also when its someone new .. will google street view.. get the person answering the phone to describe what her office location looks like  or I will say hey is that a McDonalds across the street from you when I know its a burger king.. then the other thing I will do is make them recite some information on the hud that a scammer would not have access to.you simply cant be too careful.. millions of dollars a day are being lost in this manner. 

Buyers don't care about your debt, even if you're underwater.

I don't necessarily care who wins, as long as I win.  ;-)My 'problem' is that I now going to cash, but I really don't see ANY commodity that I can 'safely' invest in knowing we are in for a crunch.  

@Hong Gao I didn't know you were thinking of wholesaling it, but I'd be careful because most wholesale buyers are going to be experienced flippers just like the contractor. 

But I love the turn overs once it is set up as it means my cleaners are in there taking care of the place.  

We don’t require any down payment (unless it’s your first deal and you have a deal where the rehab + purchase price + closing costs are under 70%, we may lower how much we loan you so that you have skin in the game).

I have a great tenant, she takes care of the house, sends the rent on time or early each month. 

Some are on the list but already got everything taken care of, others were very hostile and mean which wasn't a surprise because I'm sure they got a lot of calls and letters from investors, and others just didn't respond and were basically putting their heads in the sand.