I am a family law attorney in Plainview, Texas.

While it could have strained cash flow and impacted real estate investment if enacted, there's no immediate need to worry, as this proposal is not expected to become law.

In the majority of fraud or Ponzi Scheme cases the common theme seems to be that the money is mostly gone, and whatever is left runs out before a large portion of the victims are made whole.Sounds like the majority are first position mortgage holders.. this is super simple find an attorney that specializes in mortgage foreclosures and file. there is a federal law that went in post GFC that requires lenders to give a 90 day notice before they can file and I think it pertains to any loans on any 1 to 4 unit properties  the assets that Dodd Frank was designed to regulate. once the 90 days is up you file your foreclosure  in OHIO its a mortgage state so it cost more  money than a Deed Of Trust with power of sale state.  

Hi Everyone,     I am aware Colorado law prevents landlords from charging the tenant's security deposit for the time the landlord spends on repairs (though they can charge materials).

Reality is you need to have knowledge of real estate principles, real estate law and real estate finance to be a successful real estate investor.   

I can't tell you how many times I've seen this - both in working complex investigations in law enforcement and in dragging loans across the finish line to the closing table.

Thanks for all the info and for coming to the community with your question.One consideration is the tenant laws in each state since you have the opportunity and interest to invest in multiple places.

There are numerous state and federal laws related to buying and selling mortgage notes as well as originating mortgages/contract for deeds etc.You have Dodd Frank as well as numerous other consumer protection laws that you have to deal with. 

@James McGovern if I can assume by "undocumented immigrant" you're talking about someone who entered the country illegally, he/she would not be considered part of a protected class under federal / state Fair Housing laws.

A few points, different tax laws and language barriers made it more difficult.