The only reason to not get licensed is if you're planning on conducting shady business practices and don't want to be held accountable. 

It seems by the same logic that in theory and by the same logic that the note investor should also be insured against such a loss if they held the note BEFORE such a flood occurred as well ... that is why banks force place flood insurance if it lapses on properties in a flood zone, right?

In Mass, auctions are held at the actual property on the given date/time, rather than the courthouse steps.Feel free to reach out directly and I can send you some of the websites I use to track auctions.

A normal IRA is usually held at some investment bank like Charles Schwab (an IRA "custodian") and they only let you invest in certain things like stocks.

I Have a self directed IRA and have purchased 2 rental properties that are held in trust through the IRA all profits made from those rentals return to the IRA therefore building our retirement funds.

When I enter my discount element there, TurboTax doesn't offset that income against past investment losses that I carried forward from past years.It seems to me that a discount element from a note held for long term investments should be offset by investment losses carried forward from past years.

An agreement should be drafted between buyer and seller that agrees to the amount being held in escrow and also should be subject to release by both parties.

Obviously though, if the tenant the OP is referring to has an eviction history or as a package was just a poor applicant, then yes, the PM should be held accountable for just ramming whoever into the unit to fill the vacancy.

@Patrick Philip  Most realtors opinions are **** and they cannot be held accountable legally when you make financial decisions based on their advice.  

In most P&S contracts, with the sale of an occupied rental, deposits held by the previous landlord is settled with you at the closing, and it's your responsibility to pay the deposit back to the tenant.