If they are serious about wanting the property and it turns out to be a legitimate deal then I will obviously need to step in to pull the property before it makes it to an auction or another investor, therefore I will need to invest in the property myself possibly.

This is perfectly legitimate, though it should clearly have been disclosed to you prior to closing.

Are there any additional ways to get legitimate POF letters?

I have been absolutly flooded by these people in the last months trying to peddle properties, with extremly bad numbers, very very bad numbers, almost guarenteed losses.That being said, I can see the reasoning for a legitimate place requiring an escrow to weed out the pretenders, although I would have countless confirmation including speaking with several people who have worked with them before I invested one dime in escrow.

That is not how a legitimate real estate transaction goes down.

If you periodically, even regularly, monetize these investments to raise capital for other similar investments, that is completely legitimate.

Although i have read and researched about it, i have always been afraid of jumping into it, and that's why my savings have always been sitting on a savings account(stupidly enough). but this is exactly what lead me to try the real state venue through house flipping.Matthew, When you say a good exit strategy, can you elaborate.

Sight-unseen renters may be legitimate, but I agree with @Dan Goos that there is a greater risk of them leaving after they have been there a little while and find that it's not what they really wanted.

@Bennie Sims could you please elaborate venue and time?

Is it legitimate?