BTW, IMO the fair market rent requirement in the law is not a gray area.

I have also personally sat with two lenders who have even stopped doing land contracts because of the gray areas and how the law was written.I only speak on what I know as fact when I post things like this and am looking on for others because this is a serious law that Im sure the state is just waiting for the moment to make someone an example of.BUT BY ALL MEANS, being from Ohio you should go ahead and tell everyone in michigan that land contracts have no legal reprocussions.

There are some gray areas in there, but here is typical what I mean: I provide: Light Fixtures Plumbing Fixtures Cabinets/Vanities Appliances Door Knobs Carpet Doors/Windows Mirrors Contractors provide: Paint Lumber/Fasteners Roofing Siding CountertopsWater HeaterHVAC System There are always exceptions, of course.

It is a pretty gray area.

When it comes to contract assignments, isn't there a legal gray area regarding marketing property that doesn't belong to you without being licensed?  

Thanks @Pete Nater , @Jon Holdman ,Definitely a gray area if it is one transaction.

Originally posted by James Gray: I agree with everything Bill wrote except getting answers the advisability of using regulators (or trying to use them) as a good source of information.

I am in the process of obtaining my realtors license anyways for, among other reasons, to eliminate gray areas.

50 shades of gray.

I'd recommend reading Equity Happens by Robert Helms and Russell Gray.