My system verifies their identity, address history, sex offender registry, criminal background, and a complete credit history.

Do they verify identity?

Yours sound identical to our situation and ours had clear sets of issues that amplify every little thing that seemed wrong with the apartment.

Good point Derek, I do understand that approach and the use in appraisal assumptions, but really, as an appraiser looking at the market, there is no way what I know what an acutal CAP rate is of properties owned by others, they are assumed and compared to what is seen as alternative investments, the problem is that if you drill down, no two RE investments are identical which was my point.

In that case, the series of transactions would be viewed as a sale to an agent and a subsequent transfer to the principal, and the tax liability would be identical to the liability in Scenario #2c.

You can have two supposedly "identical" properties, lets say for example, two 4 unit residential buildings built by the same builder, right next to each other and they're not too old as far as buildings go, built in 1995, so they're now 20 years old.

However the lending limits are what I described above and sound identical to another poster in this topic.

It appears they took away the voter identities.  

An example of unethical is when an agent reveals their buyer client's identity and max price when they have been hired to shield that information.I have seen buyers pay $450,000 more than they could have gotten a property for because their agent revealed to the seller how much they were willing to pay. 

An identical building next to this one that has been redone as a single family is appraised at around $200k.