My client intends to pay off the principal, interest, fees... all at the close of escrow.

ConsMore complex setup - lawyers and regulations can be a mazeLess flexibility - the structure is more set in stoneHigher costs - gotta pay fees to keep things running smoothlyMy Take:Sounds like syndication might be a better fit.

Make sure property is “self supporting” meaning sufficient income to produce some cash flow after operating expenses and debt is paid.If one does that, they are set up for a profitable long term hold.If one invests in a prudent manner and is never in a position where they have to sell, they ultimately win.The top or bottom of a market is never known until 6 to 12 months after the fact.I’m a long term investor - my capital is patient.Here’s a question to ponder:If you could buy a property today for $1M, knowing it’s value would drop to $950,000 over the next year but would be worth $1.5M in 5 years, would you buy it today or hope to perfectly time the market and get at $950,000?

Test and refine your communication plan—it pays off!

My original plan was to update and flip it , pay off the heloc and use the profits toward buying my first rental.

So, they will be paying that. e) How are you claiming deception when they have clearly they deceived you?

Keep in mind you can keep it as a rental for up to 3 more years, and still sell without paying capital gains tax.

I had looked it up a while back and a lady was paying property taxes on it in the local area.

This had 2 different interest rates, though so you'd want to look into what you would be paying on a monthly basis with that blended rate vs actually just paying the PMI. 

Basically, It gets crazy expensive.