My question is, why isn't there a legal challenge against this law?

You can blame that socialist Ronald Reagan for that law.

also just looked up this company, does show one of the larges hard money lenders but also alot of law suits in years (2010-2012)

Sounds like NC's law is the same/similiar.

Civil laws are written to state What is illegal, not to affirmative state what's legal.

You need to educate yourself on the law.

My in-laws have some family out in Danville / South Boston, and I've always wondered if it's worth investing.

FL state law does not require the owner to provide AC but we want to keep the tenants happy so we attempt to do just that.

Every state has a unique set of laws and regulations regarding the foreclosure process, so your ability to succeed will depend largely on where you're operating.Also, all three of these require advanced skills and background, so I wouldn't necessarily start here.That said, if you do then be sure to get top-notch training and complete deal documentation from folks who have seen at least one full real estate cycle.Rather than specializing so soon in your real estate career, I would instead recommend just getting in front of as many real estate owners with problems.Just getting really good at talking (and listening!) 

Others may push back and give you a bad rap (tenants talk).The last thing is look into state and local laws to see if you can even raise rent by that much.