I have never flipped a home before, this will be a new venture for me. 

I tried to hire a lawyer but I could not afford cost of litigation, on top of losing 200k.Scamsters like these give bad name to RE industry and keep people like me away from investing in it.

Time can be the difference between winning and losing a deal.

@Michelle EisenbergNeedlessly Losing money everyday is always a legitimate reason to worry .

Yes, of course pretty risky however if you are saying it will cost $15k max to reno a condo.. there is no way I can lose.

Thanks - we have not secured financing yet....right now we're trying to figure out if we should secure on our own (wife and I) or secure through the LLC.Our worry is closing on this home and then losing the ability to purchase a home where we move (or the interest rate becoming jacked up due to that potentially being a "2nd home" in the lenders eyes.)

I call it Control and Roll. sell one of your properties to raise cashput together a friendly joint venture - each member contributes some cash - 10 members at $5,000 should give you some buying power.

Plus you lose the luster of being in a named neighborhood.Triplex: These are super rare, and it's really going to depend on how it's laid out, size of units, etc.Fourplex: Most of the time these are two duplexes stacked on top of each other, and often they are surrounded by other fourplexes.

I have seen many stores going out of business and that technology has taken or will take physicality of having a store is losing  out over the Internet retail stores and I think that will continue. 

Yes you could lose your money, but you can't lose more than you put in with most good deals.Keep looking, sounds like you are on track.