Thus far no one has shown a Due Diligence list or attempted. 

What they did was hook up with one of the professional seminar producing companies that have fine tuned this crap to be able to hook people wanting a better financial future into spending $40,000 that will most likely never result in any income, let alone change their life’s.People buying these mentorship programs are hoping to be able to cut short the process of education, experience, and capital needed to be successful in this endeavor.  

While finishing up my studies, I am attempting to put together a development that I could pitch to connections I have made and (hopefully) will make in the future. 

Nice wishful  thinking but if you approach real estate investing thinking it's going to be a completely passive endeavor, then your chances of failure will be much greater. 

Good luck with your endeavor. 

Sub2 is "the" scam of the day, maybe as much as 1% of those attempting it have legitimacy, I am probably being gracious at 1%.... 

In the meeting we heard from the many tenants who are victims of predatory landlords and from housing providers who attempted to explain how rent control destroys the business model for a housing provider.

I understand your attempt to predict costs more accurately, but in the end, there may be a reason Fannie Mae does it the way they do it.

Seller won't attempt at a second lender or new appraisal.

Trying to educate myself as much as possible before my first rehab attempt.