You will be held to a higher standard if licensed.

As we were not planning on even looking at this home, we nicknamed this our ‘Serendipity House’.After a little over a month of owning and making sure there were no surprises, our BP calculator outputs have held up: $220 monthly cash flow after reserves @ 12.9% COCROI.

If you find yourself in court you will be held to a higher standard and could lose if determined that you used your superior knowledge to take advantage of a non-licensed person.

This is a copy and paste from the HUD underwriting manual: To be eligible for a mortgage, FHA does not require a minimum length of time that a borrower must have held a position of employment.

On 2 of the 3 off market purchases, I have put earnest money down and had the closing attorney held the money until closing.  

I know you wanna be emotional because you spent a lot of money and held it so long, but that's all sunk costs.

@Blake Edwards  It's certainly illegal here in MA, plus there's a whole list of laws you have to follow with deposits, including disclosing the bank where the deposit is held and paying any interest earned to the tenant.I'd check CA laws, but it's unlikely that you can do what you're proposing.

We have 3 separate entities that are held by this primary holding company and the tax prep fee proposed is $12,800. 

All the ones i have spoken too so far only go up to 20-years and this could be a cash flow killer if held for long term.Thanks

Since many of the properties have been held for 20+ years, they have appreciated greatly and are owned free and clear, are there any different metrics to consider beyond things like CCR, IRR, NPV, etc.?