So far I have used Rent to Rewards for two purchases and have been happy.

Ed,For investing in MF, some popular read all available on Amazon:Steve Berges - Complete Guide to Buying and Selling Apartments.Dave Lindahl - MF MillionsPaul Moore - The Perfect Investment - My friend Paul, former Ford engineer, entrepreneur and now MF syndicator has done some interesting research on why MF is a great investment (focusing on trends, risk vs reward, etc).  

 I have newbee investors on TX who are considering a double closing.  What are the risks and negatives  with this type of closing?

works at our Church and obviously doesn't get paid much, but the work is rewarding and satisfying!  

Ridiculous that guys like this are actually rewarded for bad behavior.

For such a little xtra reward?

Aside from all the hidden costs mentioned by other, I think you need to consider risk/reward. $75K in rehab is serious work and 10% seems low on contingency unless you are very seasoned and there is no hidden work.Making 10% on a complicated deal seems risky.

As a side note, use caution finding someone of Craigslist- I have learned the risk far exceeds the rewards when sourcing something like this out.

Just as in any other business venture you have to way the risks vs the rewards.

Since risk and reward are positively correlated and linked the risk aversion at the low end of the wealth spectrum is an impediment to the growth needed to make the first millionOther points in the article abound in other places like it is literally easier mathematically to make the second million because of the power of compounding and the fact that the percentage change for each subsequent million is lower.