With loans, you have all of the regulatory and lawsuit liabilities, and the lender makes money with almost no risk, especially if they have a big enough down payment.

If not, watch out for big change orders, or problems with regulatory and tenant lawsuit liability.

A call to the Dept of Regulatory Agency's mite light some fires. 

Don't forget the time, energy and MONEY involved in growing an REO practice that can manage thousands of homes - especially in this regulatory environment.It's not so much getting smarter, it's just that it takes a lot time to get the right business processes in place.

Another example of the lack of regulatory oversight by banking regulators.It's also an example of the cultural attitudes favoring profits over social responsiblity, over the integrity of our financial systems and what illegal activities seem to be an acceptable risk for profit.For those who would like to see government(s) get out of business and stop regulating or enforcing rules, here is a good example why people and corporations can not be trusted to regulate themselves.....people cheat if they can!

Hi George,It's Jason not Josh but many people just call him J.As far as foreclosure costs the costs can reach into the tens of thousands very easily in some states.I have talked with BK attorneys before and they have seen people in houses for over 3 years by not paying a dime using different strategies.During this time the bank has lost a bunch of money on the loan.If an area is still going down in value the more time passes the bank loses money on the loan plus constant foreclosure costs and if the seller keeps filing BK every so many months.Also on a defaulted loan heavy reserves have to be kept out from regulatory requirements.During that time that money is trapped and non-performing.So there are many reasons why a payment to the home owner makes sense for them to get out.

If some buyer agents get pissed off they can report you and your listing broker to the state regulatory agency.

Response to all on this thread: Each state has their own manufactured housing association that will be the best guide for resources and the current regulatory compliance items. 

Also, the DBPR (state regulatory agency that handles licensing in the state) actively seeks folks out making illegal real estate fees.  

I agree that there is an entirely new regulatory landscape but it is evolving and there is room to maneuver within it.