The only CA people that invest in the Midwest are poor people that can't afford the CA market or ignorant people that can't figure that profit trumps "cash faux" or are too inexperienced that they can't figger how to leverage into this more profitable area.The best thing a newbie can do is understand what a MARKET is.

Like I said, I'm completely inexperienced so your questions really help me stop and think of the situation better. 

It sounds like you are dealing with an inexperienced sponsor, evidenced by the proposal that the investors can obtain the financing in future deals (it doesn't work that way!). 

Being inexperienced in this arena...I guess I don't see a 10+ CAP as risky.

Look forward to interacting with everyone and even though I'm relatively new and inexperienced, hope I can be a welcomed addition to the community.

The next property we purchase will be our first so we are inexperienced and looking for all the information and help we can get. 

Inexperienced wholesalers, on the other hand, who chase realtors and provide proof of funds that aren't worth the paper upon which they are written and misrepresent their true intentions won't survive in this very competitive market.

We have just as many abuses as we did before only we have new and inexperienced players trying to carve out a place for themselves.  

In real estate sellers, would like Columbo have tea with him and often give him the information he needed. 4.

Degrees are great and college is great, don't get me wrong, but it is not everyone's cup of tea.