I can see how desperate folks would do that.

Originally I was building these for year round rentals as we are in desperate need for long term housing on the Outer Banks to say the least.

If you believe you have no options but to hire a contractor then you should also find an independent boots on the ground person to verify all work preferable before intermittent or final payments are made.Some new investors make bad decisions because they get overly optimistic about the character of a contractor because they are desperate to get the work completed.

I have read countless posts from people desperate to get their $27,000 (or $40,000+) back.

And ACTUALLY many markets with continued INCREASE in median pricing coming, LOWER inventory projected, SIGNIFICANTLY lower inventory of rentals driving desperation in acquiring additional investment property inventory DRIVING rental rates up, significantly. 

However, there are millions of people who have no clue how any part in the home buying/selling process works and those people desperately need a realtor.

The true news story here is RK trying ever so desperately to become or stay relevant in any way possible, even if it means making some extreme wild predictions that are certain to result in epic failure.

Are people so desperate to live in a particular area?

I was interested in this deal, because this was an established neighborhood with old homes that were in desperate need of an update.

Originally posted by @John Nachtigall:100% agree @James WiseI have never understood how this is anything other than a slimy way to take advantage of desperate and less educated people.