Hi @Ryan Rodriguez, yes, I am LA-area investor and a CPA specializing in taxes for real estate investors and professionals.  

Your profile says you have real estate experience, so....10% and 2 points upfront would be quite good for a HML, but not giving money away either.A true HML, who is not your dad, might jack up the points or rate because the loan amount is small.

The article says 20 bids and the winning one "wasn't an outlier," so we have good reason to believe the sales price is ballpark accurately telling us true market value for the home, without even having run comps.Really, what's more likely at play here, is a listing agent that wants to be able to juice up his "average % over asking" pitch a little bit more for future listing presentations.

And that is why I went over there just to test myself and see how I would do as far as talking to people on how I can help them in their situation, I would have liked to be with a professional and see how they do it but I am not the type to pay thousands for mentoring and I know the only way I will learn is by practicing and getting out there I appreciate your feedback Carlton, maybe if your open to it we could meet and if you have any pointers you would be willing to give that would be great.

Just trying to help you understand what they will look at and dispell the myth that a lender will give you  a pass just because you have a good property.The old saying 'Banks most want to loan money to people that don't need it' is very true.

HI Michael, So that 2 yr property management holds true for some lenders like wells fargo ( I just left there) but where I'm at now no you dont need it. what we would do if you dont have a lease agreement already lined up is order a investment property appraisal and the appraiser would determine what the rental market is there. if that doesn't work we have a portfolio lender as a plan B that will most likely do it as they don't play by fannie and freddies rules. 

For the most part that is true however, after reading a book called "The Deallionaire" by investor John Lee from Missouri (He was a guest on the Jennifer Hammond show), He talks about selling properties that he has bought  for less than $1000 using both conventional and unconventional means such as advertising a property via craigslist, social media marketing or selling through realtors and word of mouth.I'm mainly looking to venture into North Carolina, South Carolina, Georgia, Texas and possible New Jersey for this.I have heard both John Lee and Ankit Duggal (A guest on Bigger Pockets show) mention buying into tax deed/tax liens AFTER the main auctions by simply requesting a list of properties that were still unsold. 

Thanks thanks for the info but I'm still a little skeptical yes I know if I am skeptical I should back out I have a consultant that I'm working with that's trying to get me a to apply for credit cards so that I can pay for the class boots on the ground but I figure if the program is so well structured shouldn't they be financing me true enough if I gravitate towards a credit card for 10 grand or more I will need to be able to pay that off with in 29 days which I don't think I will be able to do that because I won't have the cash on hand that's why I'm applying for a credit card.

If any of what David said is true, I would get your ducks in a row before firing the old GC. 

They will either come across as a professional, and ask logical questions, or they will talk fast and ask silly questions.