In a perfect world (which could happen), lets say we get the borrower to make 12 consecutive payments at $204/month with his loan balance being $14,000.

You can have the perfect plan, but if you can't execute it, it's worthless.

I think you concerns are perfectly valid and it would not be for me. 

And since I"m not hawking my services on BP like you, I will make the perfectly logical assumption your skill set is not nearly what you claim it to be so we are indeed not a good fit for collaboration. 

Lloyd Stanton no actually this makes perfect sense.

They may be perfectly legitimate and have filed an alais (ficticious name) in the county... but I couldn't find it, although I did look.

Not really rehabbing, they are buying perfectly good homes for 85 to 90$ a square foot and bulldozing them to the ground and splitting the lots and putting 2 400k$ homes on them.  

Anyway, that's not a perfect analogy, but you get the idea.

I work a full-time job, have a strong/stable income, near perfect credit, 3 days off/week to dedicate to RE, access to frequent and inexpensive airfare, and enough saved for 20-25% down on a 50-150K property.My criteria would be at least a triplex (preferably a four-plex) that needs minimal rehab that also falls within a relatively-stable rental market. 

@Ryan Murdock  I respectfully disagree - and the client I worked with today is a perfect example.We started out looking at a $21,000 mobile home for my client and his wife (from PA) who basically wanted a crash pad for when they came to visit their daughter who has a newborn son, and for when he visits his elderly Mom who is also in the area.Next thing I know, he's looking at a $69K mobile home for the daughter and a more expensive one for himself, because the $21K unit is already under agreement - now we're up to $35,000 for his unit.