It turns out the property was indeed listed on the MLS, for approximately $700k, instead of the $250k the people said they were asking as a FSBO.There was a long story about having just retired and going into the mission field, etc, etc.Point being, you figured it out before you had sunk any real money into it, and the only thing you truly lost was time.  

I also was inspired by rich dad.

Hey @Jacob Blackett, appreciate the interest...It is a 3 unit, 3 story, corner triplex. 

Same story, you can't do it.

As you have a positive story about your experience with us.Simply SMS us through our phone: 267-884-0582or visit the website: www. jamescarlloanfirm.webs.com

@Nelson RosadoHere is the complete story of how I bought my first Duplex:http://www.biggerpockets.com/renewsblog/2015/02/21...My strategy may not be the best option for you (or it could be even better if you are able to rent/AirBnB it while you are out of the country), and you may need to make some changes.

You will find many stories of paying for valuations on several properties only to have the loan turned down every time. 

*Teya; very good article in today's Pocono Record regarding Pocono rental properties.This is a very small newspaper but the story is on the front page. 

Only about 1,000 of the 22,000+ vacation rentals are legal.http://www.hawaiinewsnow.com/story/27734228/city-t...Just google "Hawaii vacation rental laws".  

(But if you can Offer 8%/m, that's another story altogether)!...