I haven't been suepr strict about having every owner get that to us prior to starting management, since we all know how challenging PM is, even without the additional paperwork. 

@Jason Merchey For more details, check out title 37, chapter 22 of the SC State law: http://www.scstatehouse.gov/code/t37c022.php (emphasis added):(30) "Mortgage loan" means a loan made to a natural person primarily for personal, family, or household use, primarily secured by a mortgage, deed of trust, or other security interest on residential real property or security interest arising under an installment sales contract or equivalent security interest against the borrower's dwelling and: (i) located in South Carolina, (ii) negotiated, offered, or otherwise transacted within this State, in whole or in part, or (iii) made or extended within this State.By definition, you didn't "make a mortgage loan" in the context of the legislation.

When I did my early high level due diligence it looked to me like they weren't issuing any new permits, but I would love to be wrong on that.I do know, having just stayed there in an airbnb, that even for existing permits the rules are extremely strict. 

Hard money refers to strictly shorter term interest only loans, and those come also from private money / investors. 

Because of its seclusion, we can get away with circumventing the city regulations as code enforcement has no way to verify how much the property gets booked.

I just found one that is 73% below the AVG for the area so there is lot of money to be made on this.I didn't have and don't have the $1000 to join the program and now I am glad I don't.What zip code is the deal in?

Did you go to the Tax Lien Code seminar that came here recently?

They focus strictly on price, and not the other 100 things that could influence their actual out of pocket costs.

Hi Jerry,SF has some of the strongest rent control laws in the country, limiting how much you can increase rent and they also have a strict guideline for eviction. 

@Emory ClaytonSounds really fishy.Those applicants are a pass for me if it is happening on my rental.On my LTRs ,i strictly donot lease anything less than 12 months.