@Alex Kovalenko DANGER!!!

Been listening to the podcast for a few months (it's like a highly addictive, dangerous drug -- that gives you all the energy and confidence in the world!)  

That still begs the question of how he would pay his rent.Such deals are dangerous for the investor, too.

I think fraud is a dangerous word to be throwing around. 

Apart from the fire danger, the $/view is unmatched in yosemite. 

The letter indicated that the property is "unsafe and dangerous under the provision of the City's building code and the Code of Ordinances.  

I have seen some explosive relationships result in multiple issues on both sides.

As far as protection (and this does not needed to be said), whatever form you'll choose it's a good idea to be familiar so it's a protection not a danger to yourself.  

Finding out later that she don't have rental licence, I decided not to buy because of the condition of the home and refusal to fix dangerous conditions of the home she started asking for an enormous amount of money and refused to return the deposit claiming it was so I could rent the home.

The danger is that you max out that card and then can't flip that house....then you have a credit card payment AND holding costs.