Whomever you have heard complaining about this is either over exaggerating, lying, or inexperienced.

The lower half of that state of Illinois (no exaggeration) wants to be annexed by Indiana because of Pritzker and lack of representation in the North but are being held hostage indefinitely.

As a lender, if the client over exaggerated experience level or was significantly off with credit score, this would be an issue.

But there's a very big difference between an agent who is willing to exaggerate or even lie to sell a property vs an agent who is transparently providing information and asking questions to determine if it's a good opportunity for you. 

The story was extremely exaggerated by a Scottish journalist in 1841 who was ahead of his time in the "Fake News" sector, and the tulip "mania" actually didn't involve very many people and had very little economic impact:  https://www.smithsonianmag.com/history/there-never-was-real-...I suppose we can still draw lessons from a story that is mostly fiction, but more accurate comparisons would probably be the South Sea Bubble in 1700s England, the 19th century railway bubble, or the dot.com bubble. 

To exaggerate, even if none turned into rentals, you would still get charged 50%. 

Syndicators frequently market apartment syndications as “very tax efficient” by highlighting depreciation and cost segregation benefits, but these advantages are often exaggerated or misunderstood.

Hi Richard,I don't know if that's reflective of your situation but oftentimes local developers make (wildly) exaggerated rental income projections to sell their condos.

If they underestimated income and exaggerated expenses, it could also be double that.

His business was also found guilty of fraud in the Letitia Jame's suit about providing one set of financial statements to lenders in order to get better loan terms, and a different set to the IRS in order to pay less taxes, and also exaggerating his wealth for decades, etc.