That way you have wiggle room to devote some time into putting in sweat equity.  

Just this morning I had someone call that got scammed out of $2350 by some "lender" that has now disappeared with the money.

I'm suspecting it's a scam.

[Since I don’t know why you asked, it’s a common scam among disreputable lenders to ask their potential borrowers for up-front money to buy some sort of lenders mortgage insurance.

I would suggest checking out the BiggerPockets book specifically devoted to this topic:https://store.biggerpockets.co...

Why would I tie my million dollar home for example, up for weeks while you try to figure out what you are doing, not to mention obtain financing for what you told me would be a cash offer….None of what you say makes any sense, and I highly suggest if you're struggling this much with the basics that you read up a bit more before proceeding further....You're either going to get scammed or end up in a bad deal/situation.When I bought my first house at 26 paid in cash, it was noted as a cash offer in the contract.

So I deduced that it is a scam to trick people into being robbed/assaulted.My neighbor got his car broken into about a month or 2 after I bought my house but I passed it off as him having a really nice car and people targeting it.

Davies, its a scam.

A scam?

I hope I haven't been scammed. if anyone has any info please let me know.