Violations may result in criminal penalties, civil liability, and professional discipline.Why Is This Rule Important?

Do not work with people who defend criminals especially when they do NOT have the facts on their side.

Fix & Flip LoanIdeal for: Buyers renovating and reselling for profitMinimum GuidelinesFICO Score: 620+ minimum (700+ preferred for best terms)Down Payment: 10%–20% of purchase price (based on experience)Experience:0–1 flip in last 2 years = higher rates, lower leverage2+ flips = better terms (LTV, LTC, LTARV, rate)Special consideration for General ContractorsLiquidity Requirements:Must show funds for down payment, closing costs, and reservesReserves typically 3–6 months of payments depending on experienceLoan Term: 12 months interest-only (extensions possible)Rehab Scope: Detailed Scope of Work (SOW) required before applicationExit Plan: Must clearly outline exit strategyCharacter: No recent criminal history involving moral turpitudeEntity RequirementsIf closing in an LLC:Must provide Articles of Incorporation, Certificate of Good Standing, EIN Letter, and Operating Agreement (or Corp Charter if not an LLC)Must prove experience via HUDs or LLC membership tied to past dealsFunding Speed4–10 business days with clear title and insurance✅ Best FitBuyer has cash for down payment and reservesProperty needs rehabQuick closing required🔹 2.

@Marci Stein Yea, we run full checks including credit score, collections, past dues, bankruptcy, evictions, criminal records, at least double verified income.

At the viewing, I explain that Transunion Smartmove will do a credit, criminal, and rental background check (they check the eviction database).

.➤ Criminal & Eviction Records Vary by provider depending on data sources, update frequency, and filtering practices. 

I lost over $100K with these criminals! 

When I was struggling to find tenants during the winter months, I kept debating if I should ease up on the criteria (700 Credit Score, no criminal history, no eviction history, monthly income greater than 3x monthly rent, no smoking or pets) just to get someone in, but I kept hearing podcast episodes where folks would talk about doing exactly that and regretting it. 

BTC and crypto is just one with some longer track to it than others given the criminal utility of it all.

The city of Cleveland recently passed a law that you have to have a "Local Agent In Charge", someone that is financially and criminally liable for anything that happens with the property.