Option: I'd say yeah, probably they are referring to a lease option.

If the person is regularly crossing state lines they are either considered low risk or are unsupervised.

It is a practical endorsement with what is referred to as a "hairy" file.

Anyway, that will all come with time...must...focus...on...present.The property referred to in this thread definitely needs some work, but all units are very liveable as-is.

So it might be fixed for 5 years, then begin to float at something like 1yr treasury + 3.25% (referred to as a 5/1 ARM).Google the BP site for "portfolio loans" to get more information.

Is there some sort of vetting process a regular joe can put these people/companies through to weed out the scammers?

So far, this is what I know, but I'm looking to fill in the gaps:Form LLC (rule of thumb may be 1 per property or $300K)Transfer dead to LLCCreate a business checking account for itKeep a good divide between personal finances and LLC financesTo get money out of your investment, pay yourself a regular salary.

Lands the size of yours are generally referred to as "resource land".

You would be ok for a while but interest rates are adjustable and will change (probably increase) when the market rates change.The best idea, if you can qualify, is to buy with a regular mortgage from a lender.

I think more of what you are asking is how the occupancy level and accuracy will affect what kind of loan you can get and how much you will put down and how much the debt service will be.A regular lender at 90% occupied maybe 6.5% fixed at 75% ltv.If you get into value add deals you will pay points and a much higher rate to fund and lower LTV.You will then need to refi after stabilizing about 1 year out.So you build the carrying costs into the amount of time needed.The books will determine the verified income and actual costs.From there you run your desired cap going in and that tells you around the price you want to pay.Now if the books are out of normal standard margins you have to ask yourself why that is (deferred maintenance,undisclosed credits to tenants,disguising fees paid to themselves in other line items,etc.)