Sounds like a scam to me.

I am in the Indianapolis area for any local contractors or investors that may have ideas or have encountered this in the past.Your help is appreciated, as I do not know how much this will cost us.Thank you,Hector

I know that would be what I would have to do if I pursue that route and there are many other documents, etc. involved, but I'm just looking for anyone who's encountered anything similar. 

My questions are has anyone else come across this type of scam and if so how should we proceed.

Called them on three separate issues, found a reason to exclude all three from coverage.These companies are nothing but one big scam!!!

This guy john sims is a fraud, scam artist and everything else in between.

Sometimes, financing may encounter a lot bumps, such as the appraisal come back below the purchase price, appraisal requires roof inspection, underwriting requires certain roof repairs or drywall repairs from the seller before closing etc, etc, which may cause the deal to fall through.

Nice post there was a thread on Do hard money actually been many of them. they will actually fund 100% but you need to pay them a 3k fee or there about up front with no guarantee of funding then its something like 650 per submission according to those who have tried it and posted on BP .. so many of the folks posting on the thread about the company paid the up front money 2 to 3k the 650 submission fees a few times and the deals were never good enough in the eyes of the funding company.. so there you go out 3 to 4k and time and effort.. some on top of it some  were naïve enough to put down non refundable EM with a wholesaler and lost that as well.its quite a model... little to no down side risk and prey on newbies who are the most vulnerable and want to get into the game and I suspect most of them even pull the 2 to 3k fee off of credit cards.So what do you have1. newbie  ( does not really know what a deal is yet2. limited capital but burning desire so they risk the 2 to 3k3. only a screaming deal gets funded as you stated.. newbies generally don't fall off the truck into screaming deals.then you have on the internet  what I call pump and dump due diligence scammers  these are flat out crooks of the Nigerian prince scam mode.. promise you 3% loan 100%  two e mails and your approved.. broken English just need 500.00 to move forward...

That is a scam in my opinion.

That being said, I haven't had much trouble renting it out and have not (knock on wood) encountered the tenant from hell.