Here's my thoughts (someone who has closed over 60+ A-B-C SS closings)Let's first define FRAUD: I'm sure many will agree...

Once I confirm the numbers and validate the deal, trust me, I will ONLY release rehab funds at certain, pre-defined stages, which normally track the permit process; carpentry/framing, concrete, electrical, plumbing, drywall, finish, final CO, etc.#5 - Oh, let's not forget..., What experience level does the borrower have?

The seven year class life is used for anything that does not have a class life defined in the tax code.

"Real Estate Investor" is a pretty broad term.

:cool: The California Business and Professions code defines a broker like this:Broker Defined10131.

Okay a couple quick notes- Just cause I'm curious- 1st picture starting after exterior- the kitchen picture with table- you may want to remove the table- yes the kitchen has eating space but the table where it is also makes kitchen look smaller than it is- Open the kitchen window and take a better picture.Second picture- nice arch and windows- mat in the middle of the walk way looks out of place.3rd picture- Open the window and get some light in the house- remove the cups/plates and just add a runner on the table and then the flowers.4th picture- Umm why is there a outside sitting chair in what seems to be room- confused.5th picture- weird place for the couch- you may want to move it to where the tv is or maybe where the window is-room looks awkward- yeah definately where the window is and then maybe two chairs- some pillows with a bit of color.6th picture- weird thing on wall- tv and mat again in weird place.7th picture- what room is this and why is there a weird shaped sideway window?

(btw, I define "unforeseen changes in the market" as a new comp hits that hurts our ability to sell at our anticipated price)That's honestly the biggest risk I see in this market -- having values drop between the time you purchase and sell.

Detroit, Toledo and Pittsburgh are not areas, they are municipalities with defined borders.

You work your way backwards from your ultimate RE goal and define your realistic timeframes, then your REI goals seem more attainable, regardless of your current knowledge or financial position.

Having a big WHY and a defined goal helps a lot.