Bill,The theme song is "Churn, Churn, Churn" - similar to this one :D http://www.justsomelyrics.com/1831974/Peter,-Paul-and-Mary-Turn-Turn-Turn-Lyrics

However, you can stack the deck in your favor by doing your homework about the market you are in, not over rehabbing, setting a realistic selling price and then meeting with the appraiser when he comes over and giving him a list of what you have done to the house as well as providing him with the comps for similar sales in the area.

But I notice some similarities with some companies like when they fund you they I start paying after six months. 

I got the impression others were finding similar if not better deals in places like Indiana and the Carolinas.

Good afternoon All,       I really wanted to chime in because I am in a similar situation.

Don's list is quite similar to his.The only thing I have to expand on is before you start demo/trash-out, complete any critical safety issues that may exist before you break out the crowbars.

The maintenance and turnover costs are similar to apartments-- although a little higher because one unit supports the entire roof, hvac system, plumbing system etc.

We use National Tenant Network but I believe they all mostly provide similar information.

I am assuming an escrow agreement may work, but you run into similar problems.Ideas?

If there was a Hall of Fame for investors, Lonnie would probably be in it.It's too bad too that so many following this scheme did so as preditory dealers to the extent of having federal legsilation adopted to restrict the practice.I guess the best way to proceed is to make enough on your fist few deals, maybe sell the notes for cash and pay the fees to become a licensened mortgage originator and a dealer, otherwise you'll be limited to conducting business.BTW, Another similar "system" involves selling land, if it's zoned residential or can be used as residential raw land, it also falls under the SAFE Act.