What was the process like and what would you recommend for someone like myself who is considering it?  

And how far back in time would you consider someone a client?   

And this is in Vegas.

They said that per California Revenue and Taxation code, they're asking me to provide them info such as the purchase agreement, rent rolls, etc. to assist them in doing the reappraisal of my property.  

Many times if it sounds too good to be true it is. 5% down and 5% on a rate would be well below industry average currently

@Drew GiltnerHey Drew, I saw your post and can definitely relate to the challenge many new investors have with analysis paralysis and getting started. 

Only pre-foreclosures and people with other need money issues need cash fast, maybe like 10 percent of seller.

Are you looking for long term rentals for buy and hold?

I asked for referrals from other investors and he said it would take a few days for him.

Find one that does not have a high-priced long-term monthly contract, flexible pricing, and excellent customer service.