The migration out of the high tax states is a bit understated in my opinion and is only going to get worse and therein lies the opportunity!

Under state law, you may or may not be able to keep their security deposit.

An offer to buy for cash is not an offer of brokerage or agency/representation.We use disclaimers on all our marketing materials that meet state rules and basically say "this is not an offer to list your house, if you are currently represented by a broker, please disregard this offer.In addition, if a licensed investor in TX forms an LLC for the purpose of purchasing, rehabbing, and selling houses they buy for cash, they do NOT have to be a broker.Real estate agents often think that anything to do with real estate falls under state or NAR rules or jurisdiction.  

Since most programs are county-enabled under state guidelines, the first place to check is on the county website where your land is located.

I don't want to understate that in the least.  

At the end of the day there's only so much you can do and I can't understate how valuable local knowledge is.

From the deals I've modeled out expenses in the 50% range (varies by market) is a standard guiding principle, variation (lower) from this typically means expenses are understated.   

They won't all disappear but the word will travel fast when a few get placed under state investigations for brokering without a license.

Security deposits belong to the TENANT unless a legitimate claim is made under state law.

It my qualify as a boarding house and not fall under state landlord tenant codes at all.