George, UT; Redding, CA; Marina DelRey, CAis a COMPLETE FRAUD!

As to type of renters this is a section 8 type are but also there is a university nearby so you may get students as well.So the info:First, 3 almost identical units have sold this year at 163k and one sold for 180kSecond, I have one of the sellers financial summary for 2015 & 2016Building 1 GOI: 2015 = $ 26,339.00     2016 = $ 23,470.79 Expenses (without mortgage) 2015 = $ 13,086.61      2016 = $ 9,695.64 Annual net: 2015 = $ 13,252.39      2016 = $ 13,775.15 Current rents: (4-27-17) A – 625 B – 600 C – 600 D - VACANT Building 2GOI: 2015 = $ 26,309.60     2016 = $ 20,792.80 Total Expense (without mortgage) 2015 = $ 6,811.16    2016 = $ 8,597.79 Annual net: 2015 = $ 19,498.44    2016 =  $ 12,195.01 Current rents : (4-27-17) A – 625 B – 600 C – VACANT D - 600 Note: I would only be buying one building.The main thing I notice is if you look at gross income it looks like their 2016 vacancy rates are quite high in both buildings.

Good morning, BPers in the Fayetteveille, NC area.As some of you in that market may know, the owner of New South Rentals, Susanne Gee has moved overseas and apparently (allegedly) has stolen / lost / misplaced about 6...

Appears some really bad stuff going on with these guys on Rip-Off report and I found an investment fraud law firm (Baldwin Mader Law Group) is conducting an investigation with all the investors who lost money with them. 

You will find a thousand FRAUDS AND SCAMMERS playing this same game on BP.

The only problem Andrew is that the LLC has to have the money in the first place and there actually has to be a transfer of funds from the LLC to herself personally otherwise what you're saying is you're creating a Shell/fake note with an entity you own only to to convince a conventional lender that they are paying off a credible first trust deed note as a rate term refinance.In theory it sounds great, only when I asked a hard money lender to do a similar thing with their funds by funding with a larger note but only disburse enough funds to purchase the property  so that when I do a rate term/regular refinance I could get 75% of ARV (the total acquisition cost up to the limits of the note) they told me it was mortgage fraud so because there was no real funds allocated for the full note amount and that they were not comfortable taking the risk.

You could gift him the downpayment and the seller can contribute to the closing costs up to 3% I think, but you can't "float him a note" for it.In reality, this could be construed as a straw borrower purchase and ultimately fraud.  

No two homes will be exactly alike and it sounds like you're looking for perfect comps that have identical features to your expected finished product. 

If not, it is considered mortgage fraud if you do not move into it.  

When I was a bank manager, wire fraud was always one of our biggest concerns.