This is straight from the CFPB website: "Additionally, for 60 days from the date your loan servicing transfers, your new servicer cannot charge you a late fee or treat the payment as late if you sent it to your previous servicer on time or within the applicable grace period."

After a grace period of 1.5 days give another notice and mention legal action or law enforcement5.

EVERY applicant is "qualified"!

In some places there are a few days grace period to allow for rent that is sent via mail (which I don't get because if it is due on the 1st, plan ahead). 

The saving grace is that it was purchased cheap a long time ago and will still either cash flow or yield equity even after repair costs

I had never heard of such a thing.. and most private flippers dont know it either So like on our subdivisions whatever LLC we own it in that LLC also has to have a developers license .. so  If you have multple subdivision going in multiple LLC you need multiple developers licenses.. where this can stymie some folks  NOT EVERYONE can qualify for a Bond.

If overturned, the reporting deadlines could be reinstated without a grace period.3.

To qualify as an RE Pro you must:1.

@Grace Norton adding to what's been written already, you'll want to get a 2-year work history for both.To consistently pay rent, requires consistent income, which requires consistent employment.Pretty simple concept!

California does not recognize Real Estate Professional (REP) status, but you can still claim it on your federal taxes if you qualify.