Of course the co-signer should be significantly stronger in ALL areas as compared to the applicant...usually this is a parent or relative, and they should be well established, with ownership of real estate for years; long and stable employment; no, or very distant, criminal and traffic court records; well funded SAVINGS/IRA's or stock market accounts.

Losing any license for that matter RE  Mortgage Broker etc etc. you have to really make a boo boo or have a scheme going.As you know the NPL space takes a very well put together team..

Instead, I have established a donor advised fund (DAF) for charitable giving during and after my death. 

Been dealing with NYC DOB, initially as an Expediter, now as a Licensed Architect on behalf of my client's and their projects since 2005. 

Established borrowers are not paying interest of loans that have matured and WE the investors have our money stuck doing nothing.  

If I were you (and you meet the items listed above), I would definitely still move forward with licensing since you already have the property.

It's been a great privilege to work with the City of Maple Heights to establish the egress window codes in alignment with the Ohio Building Codes, so the residents can begin to have safe and beautifully renovated properties when there is such a need.

A good way to avoid this in this future is to use a vendor worksheet/package that request the pertinent contact information along with a document request for the filed out W-9, copy of business license, Worker comp and liability insurance certificates.

A $200,000 duplex might have identical rents in municipality “A” and municipality “B” but the property tax rates will vary, local regulations will dictate licensing requirements, labor rates will vary & the particular location will dictate insurance premiums since insurance carriers will weigh local replacement costs and whether the municipality is viewed as being a “plaintiff friendly” in arriving at insurance premiums.Better situated assets will attract better tenants/higher rents & reduced management expenses Tenants who reside in better situated housing and pay higher rents are more financially responsible meaning lower rate of rent loss and will generally take better care of the property.

If you are not licensed, then why would you sign the lease and open yourself up for any lawsuit the tenant may file or cause?