There are many legitimate ways to make your money work hard for you, being 'creating' or going into 'grey' area is not worth the risk.

Did anyone here legitimately start on a shoe string and have major success?

From the seller's perspective, the MD contract looks legitimate, it's standard procedure, and the seller doesn't have to worry that you drafted a shady contract of your own with "fine print" or weird clauses that could be dangerous for them to sign.5.

It's counterproductive, and there is too much legitimate business to be had.I hope this helps as well, and the best of luck to you.More Information on Anthony WelchAnthony.

It is difficult to find honest investors that are genuinely interested in a legitimate win win transaction.

It would seem that without boots on the ground to estimate rehab costs, one of two things will happen...you'll either underestimate rehab and local investors will think you foolish and unable to offer then legitimate deals....or......you can be conservative and assume every property is almost a full gut, and snag a killer deal every once in awhile, and leave lots of money on the table with properties that didn't work for your conservative analysis.There are lots of ways to look at it, but if you have the ability to do the market research and get good mailing lists, why NOT mail to some high equity owners assuming the place is trashed and see who bites?  

This really burns me because with our student tenants we have legitimate damages that  need to be charged to the tenant. 

However, in California for instance, a bank goes through several steps in a foreclosure:  1) they send their letters out to the borrower regarding late payments, what's going to happen etc 2)  they file/record a NOD (notice of default) during which they advertise in a public venue, etc If memory serves this is a 90 day period and then 3) the record a notice of sale which sets forth the sale date approximately 3 weeks later.  

I have backed out of 2 properties with legitimate inspection issues.

They seem to be one of the more legitimate turn-key providers not just in AL, but also in the entire US, they are a very professional and well-run business.