Read more: http://www.housingwire.com/articles/39645-experts-dont-read-too-deep-into-februarys-existing-home-sales-drop

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@Samuel Riehn unless they are paying for BS appraisals (in which these appraisers will lose their licenses), this is the most bizarre strategy I've ever heard of.Why wouldn't they just use hard money to purchase the properties as deep discounts, renovate them, and then use a cash out refi lender to pay them back?

I just found out tonight he is refusing to pay so I have not really dove that deep into the situation yet. 

You should know these rules or can get your self in deep trouble. 

They just needed a really deep cleaning and treatment with old english. 

Fast forward - 5 months  ------ Stand back and look at the finished building - fully rented and giving you a great cash flow - you take a deep breath and wonder-----  if all the problems; zoning, inspectors, the county, permits and dealing with other predators  along the way - and wonder ------- was it worth it?

Otherwise a deep discount is going to be necessary...

If your first in on the neighborhood that can also be scary and unless you have deep enough pockets to start snapping up multiple houses to cause an upwards trend I would allow someone else to take the risk first.

Bank says 3 partners do not have enough liquidity and they have ask for 500k and another partner with deep pockets.