This one in particular was a personal home for us that we'd reno and refi, but would have enabled me to go from 1 to 3 doors once complete.

BP IME is not a great resource for legitimate information from commercial operators - for that, just look in the tax records and cold call the owners of the type of property that you want to buy and ask them questions, tell them you're just getting started - 2 out of 3 will be happy to talk to you and lend you a hand. 

@Farzan SetayeshNothing out of the ordinary, but I use the combination of the following consistently:- google photo for agent photo/video sharing- docusign for executing docs- acrobat X for all other doc edits- whatsapp for texts and phone calls- online money wiring or ACH for large items- paypal or venmo for smaller items- zelle or ACH for collecting rent- yelp or taskrabbit for misc repairs- lawnlove for landscaping or snow removal - skype for group meetings- Dropbox for online record storage- google voice for call forwarding - email for all tenant communications - autodraft for all utility & mortgage payments- online payments for all taxes & insurance - google earth to survey neighborhoods for out of town purchases - amazon or HD for online parts ordering The automation & streamlining of low value tasks enable me to preserve time for higher value activities.

Aside from the very legitimate legal complications to work out.

There is not enough info here to know if you have a legitimate out of the contract.

For HMLs in particular, and especially if they've reached out to me, I'm looking for positive reviews and referrals showing that they are legitimate.

@Erik Whiting  I get the U cant eat equity.. rationale.. but there are other uses for equity that are not really talked about on BP simply becasue 95% of the folks here are in one asset class rental houses or units.In other real estate endevours equity is a critical part to enable one to take down different types of debt IE construction and development loans.  

Is this a legitimized write off?

Join the club - I'd guess 90% of the investors I insure don't follow some or all of the above processes above and it's a legitimate exposure to you the property owner that is not inexpensively insured on your end of things.

Or suggestions on how to enable the companies service you better?