Especially for someone who hasn’t purchased a first property, I recognize that I will be more gullible to scams like this.

It sounds like maybe you’re wholesaling and getting contracts for a price that the attorney recognizes as less than market value…and they advise their clients accordingly.

@Chet Freeman I recognize there is a wide range of opinions on the topic of flipping land. 

So even though it's non-passive ...if there's no basis it won't be a recognized loss. 

Hello Yna, I think this is a way to make the short term rental business model recognized as an asset to this communities.

Message should read...I wasted Alot of time and energy chasing distressed properties until I got smart and recognized better options!

If you consistently analyze properties, it will be much easier to recognize a good deal when it shows up.

And one self-insured loss out of ~100 properties (not sure of your price points) and you just may be on the losing end due to defense costs.Also, it's generally not about a property "having issues" during a 5-7 year hold period.

Even HUD, bureaucrats that they are, recognize that most of those are BS.

@Chris Puglisi If the county records show it as a duplex, then you have to be living in one of the recognized units to be able to get a OO loan.