Are the properties close to in the distance to each other? 

These areas may offer more affordable multifamily properties that fit your house hacking goals.Rochester and other distant markets could work for a BRRRR strategy, but it’s a big commitment given the distance.

.#8 I would consider your inspection cost a very cheap crash course in buying long distance investment properties. 

I'm doing more research because I do not understand how the SEC or Licensing bureaus are also not involved.

What to do;  this only works where the house has lots of parking, distance from neighbors.  100% of the time its a neighor who turns you in.   

At first I looked at this as possibly just a failed investment where millions of unaccredited investors lost money (still very bad for everyone involved), but after learning about the involvement of Ronald Fossum that has a convicted history of defrauding investors and the fact that Norada is still raising money from investors, my mind now goes immediately to possible Ponzi Scheme paying past investors current funds being raised.

Hey @Monish Anand - Long distance real estate investing can for sure be challenging, but also forces you to dial in your systems or fail!

I have never heard of any NAR agreement for agents to be involved with notes, that is far from the truth.

It would be a direct sale with no brokers involved. 

They both involve sourcing deals.