No one was scammed there nor did I make any money on that loan but that is the nature of the business sometimes. 

i understand that i need an agent to do that. anybody here who had the same issue as im encountering?

I agree it is probably a scam if they say they would accept a low DSCR. 

I thought that was always a scam or not real.

Many others have been scammed.

This was our first encounter with Section 8...so, we had to learn the hard way.Personally, we do not prefer to deal with the Section 8 process - it is a bit annoying and cumbersome, and NOT a necessity as there are plenty of valid rental candidates in the market able to cover the rent themselves.I know that is a small 'lesson learned'  but if you are totally new to it like we were, maybe it's worth the read!

If you encounter something you can’t overcome find a local expert and get them to help you or hire the right person, lawyer, realtor, contractor etc.

If u plan to take the building down as opposed to repurposing it, you may encounter contaminated soil that was previously capped by the slab.the estimate sound low on the low end to me.

For those who have purchased foreclosure single family residences, sight unseen, what are some of the most typical repair surprises you’ve encountered (beyond what you expected) and what % of the time did those surprises end up making the deal unprofitable?

@Michael HopkinsHard money at 5% is a scam.