Thus, you qualify and buy that property and live happily ever after.Minimum general paperwork for your lender to make the determination if the above will be applicable to you, this is true of your lender of choice if they choose for it to be true:Gotta run your credit, can't run the AUS without that.

I guess part of me also started thinking that I wouldn’t get the true learning experience from a turn-key purchase.

However his front step is beautifully designed.

It's become a bit of a buzzword lately so be sure you look for true turnkey companies: full-service, everything in-house from finding props to rehab to management; live and work in the market they sell; no used car salesman or pressure tactics.Look up Morris Invest on BP to get a good idea of what to look out for.

To purchase your first property as a true "investor" you typically need 20% of the purchase price for a down payment ($20,000 for a $100,000 home).

Plus I think Andrew will agree there are all sorts of FAUX lenders out there or out right crooks they will contact you with deals to good to be true you just don't know it.. 

If it is true, would not having a PPM increase the sponsors exposure in a lawsuit in any way?

@Andy Chen While doctors are pretty smart it is not always true when it comes to investing. 

If none of your buyers told you which one was off, then you should assume you need to work on both.I tell new wholesalers this all the time but I'm afraid most don't listen: You should be putting things under contract for a price you yourself would be willing to close on, and you should actually have the ability to close on the property.If neither of those things is true, I think you're playing with fire by putting things under contract with homeowners anyway, knowing you have neither the ability nor willingness to actually close.

They dont do an appraisal but the do an in-the-house determination of the value of the house based on comparables, at no cost to me.Now, my current lender would only lend me the purchase price, then I have to refi in 6 months to recoup my rehab costs.Is this too good to be true to find a new lender give you purchase price and rehab expenses lended for 30 years at 5.5%?