You've got legal issues plus a whole bunch of other stuff.

i applied for a great card offer last year, got rejected, and was actually able to connect to a nice person who helped me to (accurately) revised my application and get approved.

The title company might also know about any legal avenues to proceed with releasing funds.

hi, make sure the seller signs the agreement. make sure it’s legal whatever you are doing. do whatever the escrow company says. make sure you get paid! 

You can't approve or deny someone based on something that "may" happen.

I spent time writing forum guidelines, getting them approved,and then implementing them.Once I started actually moderating the spam, eXp got kickback because all of the spammers were mad that their fake posts were being taken down in seconds by me.

Also a fee for garbage, accounting/legal fees, repairs and maintenance.

*I am not a CPA, tax professional or a lawyer*I cannot give legal advice, so all of my advice is illegal advice.As far as I know, section 469 of the tax code is what allows for the "STR loophole". 

What legal options do you have, if something goes wrong?

It's primarily a legal protection vehicle and should be advised upon by a lawyer in most circumstances.