The Norwest Bank study, above, did not address this and was irrelevant.  

I don’t know if Patrick was completely duped by Robert as well, but I do know that when I make inquiries, Patrick directs me straight to REM and doesn’t address the issues himself.Patrick seems to be a very intelligent guy and, honestly, I still occasionally listen to his educational content, but I will never invest with him again. is he licensed series 7 so he can legally take fees or was he a principal or employee so he could legally take fees ? 

Quote from @Elrondo Colson: I ran a fix-and-flip analysis on a current on-market MLS listing in Columbus and wanted to share the numbers for feedback.Quick snapshot (address intentionally withheld):Single-family home3 bed / 2 bathApproximately 1,274 sq ftWest Side ColumbusRegular MLS listing (not a foreclosure or auction)Rehab Scope (Light to Moderate)Modeled as a cosmetic renovation based on the listing notes:Interior cosmetic updatesKitchen and bath refreshPaint, fixtures, finishesCurb appeal and punch list itemsEstimated rehab: approximately $20,000This is not modeled as a full gut.

I'll address the questions I see here.Cody never says this is easy and requires very little work.

You need to preemptively address the lender's concerns.Lead with Strong "Whole-Property" Comps: When you apply, your real estate agent should provide rental comps for the entire property as if it were being rented to a single family or group.

I believe that they saw the listing on Booking.com where it shows the address, even though the calendar was closed, and decided. to try their luck.

_____This week, we’re talkin’ housing affordability and what the Administration has planned to address the crisis.

To address your comment, “vetting members” is a broad statement as it applies limitation due to Fair housing that we as a company follow as well.

Quote from @Elrondo Colson: I ran a fix-and-flip analysis on a current on-market MLS listing in Columbus and wanted to share the numbers for feedback.Quick snapshot (address intentionally withheld):Single-family home3 bed / 2 bathApproximately 1,274 sq ftWest Side ColumbusRegular MLS listing (not a foreclosure or auction)Rehab Scope (Light to Moderate)Modeled as a cosmetic renovation based on the listing notes:Interior cosmetic updatesKitchen and bath refreshPaint, fixtures, finishesCurb appeal and punch list itemsEstimated rehab: approximately $20,000This is not modeled as a full gut.

None of what I'll say below is revolutionary, and some of it has likely been addressed by others in replies above, so take this with a grain of salt.Where to actually find under-market rehab dealsMost first-time investors look where everyone else is looking.