So if these 2 factors are fairly similar to some other businesses or investment strategies, #1 They highlight their best successes, #2 they use primarily debt to buy property, then there is really no reason to hate a guru program, unless you also hate the other persons or companies who behave the same way.

The rent should be at or near fair rental value.

However, the buy & hold area is so much different than flipping that telling you I have a deal that will cash flow at 1% is about the same as telling you I have a pair of shoes that will fit you without knowing your shoe size.Flipping employs a fairly simple and defined formula that everyone can use.  

I am fairly new in the investment community.

They are gambling that FHA will never check in that first year or they have the ability to refi out of it if they do. 

To be fair they were new construction brick with concrete scored floors..

Meanwhile, I would purchase it from them for a fair value, put cash into it to fix it up, and increase the rent to make my profit. 

I have been trying to think through this mental exercise a fair bit lately.

Hey BP CPA's,I'm a DIYer when it comes to taxes (please don't yell at me) and until now my taxes have been fairly straightforward.  

I think that's a pretty fair and accurate description, @Rob Cee