They just flat said it is appraised at $425k.

Collect money fee, acquisition fee, ongoing management fee,   watch contractor do upgrade fee, hire contractors fee,  disposition fee,   fee for doing refinance,  fee for doing financial statements,   20% fee if sell property at profit.If investor happy with their 5% preferred return great..  

Once you run the actual numbers or take into account HML fees you arent making money.

A condo is similar to a house but with a lot less control over the investment:The HOA can hit you with "special assessment" fees whenever they want to make a large repair, hurting your cash flow. 

Costs and Fees.

We've been working on bylaws, registered as a non-profit, set up a bank account, drafted application forms, discussed membership fees, and a whole bunch of other stuff.

Nothing against them, I’ve gotten some decent properties from them, but as a buyer I’m looking for more of the Lone Ranger wholesalers because there’s more flexibility on the price and not additional fees on top.

Option fee goes to attorney's fees. 

and remove my name from this property since the owners have paid me the redemption fee I asked for.

Inspections, title, and closing fees could be $2,500+.