Their advice was you would have to be able to show 8-10 incidents of this behavior (for them to take it seriously), take it to the local PD, then the case MIGHT get kicked up to the DA's office and local RE commission.If you are the one being harmed and can win a civil lawsuit, most states have a recovery fund that will pay out on the judgment, and take it from the agent/broker''s commission(s) or assets, within a year of the judgment.

I responded to that today in fact.http://www.biggerpockets.com/forums/311/topics/115369-price-reduction-strategy---help-pleaseThe ability to foreclose and get the property back in Calif is arduous, so I would see a local Calif RE Attorney.Seehttps://litigation-essentials.lexisnexis.com/webcd/app?

13)  Do you verify that each airbnb tenant has a legal residence in a country in which they can be reached for a civil or criminal suit if needed?

You can call the police and shoot for something like theft by conversion or fraud, but they are probably going to tell you your only recourse is a civil suit Its a breach of contract, I dont know that they'd call it a criminal act from what you've described.

However any good litigation attorney should be able to help.

If there were issues arising from excessive damages, such as a borrower rehabbing and destroying the collateral, that is another matter for civil courts to assess consequential damages.That leaves seller financed transactions to be assessed, to the financial side.Dodd-Frank, the SAFE Act and all other underwriting guidelines fail to address the ownership of the note as an asset, much has to do with servicing and reporting requirements, but aspects of asset valuation are totally ignored.

Unless you plan to have clauses that say the signor agrees that Wyoming, County of Laramie for all legal disputes and they consent to litigate all matters in that court, it is not as much help as most people think.

Alex - you may not need an attorney, or at least not just yet.I would think a CPA would be able to advise you on the pros and cons of one entity versus another, so I'm surprised your current adviser was unable to provide this information.Currently, my team includes a bookkeeper, who works for me one day a week, two CPA's, six (6) attorneys who do everything from basic filings to litigation, as well as a pension advisor group.Attorneys, like plumbers, can get expensive very quickly.

If litigation is needed, the fee you paid is not applicable, but the attorney would be the one you would call for defense, in most cases.

Please try to remain civil here on the forums.