If they're in 2nd position and even if there's substantial equity how could they move into any type of foreclosure??

I want to see their experience managing other people's money (and which is much harder than just buying properties for personal investing purposes).2) No details on key things that indicate risk like co-investment, structure of debt etc.

Key Kelsey!

And I need some clarification from those who are section 8 landlords.Regarding the actual payment to landlords, they said, "Once it passes the inspection and rent comparability (this is where we make sure your asking rent is the same as the market), the housing specialist will give the move in approval."

Also are the properties turn key at that price or would it be a BRRR type situation where you can use hard money then refi out? 

If you could cashflow a bad case scenario then build:Bad case scenario 2 bedroom grossing $60k at 8.5% interestDoes it work then move foward.

We've lived in Jacksonville, FL for the past 3 years and recently moved to the Orlando, FL area.

They want to move in August 1st.

I haven't seen financials but they've stated their net income is 30% (spec) and 20-25% (full custom), shovel to keys in 8-9 months.I'd like to help them execute an outbound S&M strategy but I'm new to this side of the RE world (I was a mortgage lender in a previous life and have some familiarity) and I'm trying to learn more about it.

If you ask the manager to justify a fee and he starts hemming and hawing, move on or require them to remove the fee.