A broker/lender should have a funding agreement with investors that prevents an investor from cutting out the broker anyway.

Concerns?

Shutting the water supply to toilet will just cut supply to the tank.

They paid him a living wage and cut him in on a percentage of profits when house sold.

And it depends on how much trim is being removed, doors to cut around etc.

Nope, that appears to be a pretty clear cut case of fraud unless he fully disclosed everything to the lenders.

I'd be most concerned about how a potential tenant would react to it.

What if one of them cuts off a finger with a saw and want you to pay for it?

Learn it all, don't go in with a preconceived idea that the material has to be applicable to RE as most won't be initially.It gives a big picture of management concerns in business, you'll probably look at examples from large corporations like GE or Ford and you'll look at small operations.

Feel free to reply to me with any questions or concerns!