I also recommend the NOLO Press website and their self help legal book to educate yourself on LLCs, corporations etc.

If I can press a property into service for under 15k a unit.. and make 650 rent the reits are not much competition to me since my administrative costs are less.

I hear you on watching the bank account dwindle without anything coming of it yet, but if you continue to press forward, it will happen.

You are all right, I will just pay for the repair, I was going to fix it anyways, because it just needs to be done, but I won't press on it with the tenant.Jon, you are right, it is absolutely part of the deal.

We specialize in Shaker Hts and between the taxes, point of sale and rental rates you will be hard pressed to compete with areas like Warren.

https://www.ftc.gov/news-events/press-releases/2019/11/ftc-acts-shut-down-companies-operating-real-estate-seminar-scheme

Is not the kind of free press I'm after! 

You never recover from such a loss, but learn to adapt and press on.

While I'm certainly not a fan of FNMA, my experience with them over many deals is that they are careful not to do anything that would result in obvious negative press or a lawsuit, so my guess is that there is another side to this story that you're not telling.While FNMA's addendum generally gives them the right to back out of a deal for pretty much any reason, I've never seen that happen, and would be VERY surprised if they backed out just because they got a better offer, and I'd be VERY, VERY surprised if they did this and then tried keeping the earnest money.If the story is as clear cut as you say, why did the escrow/title company release the earnest money to FNMA.

Or press 9 with most robo calls.