I’m going to visit the site today to see how much work is needed to be done.

After sending my $101 deposit the auction site told me the seller refused to sell this.

@Ray Harrell I'm sure I can find an example of this somewhere on the site but since you brought it up is there any sort of standard to figure out how much you should be offering for something like this?

Some people classify a primary residence as a liability because there is no cash flow (I personally see it as an asset) and unless you are renting it out you are losing money but everyone has to live somewhere so you might as well be paying down debt on something you can potentially sell for profit later. 

People lose money in syndications all the time.

I love to know why bp doesnt vett all the hard money lenders listed on this site? 

For some buys it may not make a difference but if you are on a strict budget it could be the difference in turning a profit or coming across a big issue and breaking even/losing money.Good luck!

As with anything, don't risk it if you aren't willing to lose it.

You'd either need to do a capital call or you'd lose the property and all of your investor's money.Why would the business plan not work?

At BP, not only can you network with other real estate investors, you can learn from the informative forums posted daily on the site, find properties that are for sale, and take free courses.