What I disagreed with is buying the property with the intention of then suing the seller/listing agent in order to recoup your money.

I'm mainly concerned about buying at peak prices, leaving no room for appreciation.

Intent does play a role.

Hello Everyone,I am new to Real Estate Investing and I am looking into several different strategies, rehab and flip is my main interest.

You can have something built to code but not permitted, while something that's permitted is automatically built to code.In my area, the city requires a permit for any work on a house that exceeds $500 - i.e. it's mainly there to make money for the broke municipality - including paint, tile, flooring, any concrete work, door and window replacement, you name it.

The main benefit - is that most banks only allow a person to have 4 loans total.

I makes for an interesting relationship with my wife, the MUooo fan, but I still love her.My hope is to make this happen through rehabbing and it may be a little ambitious, but that's intentional ;)

Up til this year, I've always poured the cash into buying more properties, with the intent of kissing and making up with the houses (re: deferred maintenance) when done buying.

Document your intent for the IRS.

Again my intent is to become full time.