If I send them the evidence and they try to only claim what I didn't send evidence of, then I can't make them look like the scammers they are near as easily in court if it comes to it.I've heard the argument that they know what they did, no need to include evidence, which makes sense.

Everyone needs a place to live or want to have more money, so I would think knowing some real estate makes sense.

I'm sure there is a deal somewhere, and I am looking for it, but the ask prices are out of whack for what I'm seeing... keep me in mind of you do find something that makes sense!

Deals come up all the time where I'm from, via Foreclosures, Short Sales, etc. via Properties selling for $50,00 - $60,000 .If I get n accurate Estimate that the ARV will be say $80,000 - $85,000 , and Im All-In the property for $65,000 ..... then would it make sense to do the deal ?

Crash in the future, I don't think so, but there may be small bubbles in some local markets that might pop, or as commonly referred to as market adjustments.

(still better than 4.99).At year 5 it can jump up to a max of 4.25 for a year (still better than 4.99).If i were to keep this loan and rent out the house for those few years then it seems to make sense.

That doesn't make any sense especially if the mentors price point is around the same that you paid in Memphis.Conventional wisdom says you would get your first property through your local mentor at a a great deal and they can be there for you.

A 10% cap rate is commonly used, but is a generic number.

For us, we want to live in Chicago for the next few years and for us financially it makes more sense to invest in multi-family homes where we live in one unit and rent out the others and try to repeat as many times as we can before we maybe eventually move out of the city.  

A lot of them are extremely laid back and definitely don't have the sense of urgency most "mainland" investors are used to.