I would think it would be difficult for a investor/plaintiff to stand up in court and say that they didn't understand the risks.

If your W2 is your only means of financial security, you are standing on a very rickety bridge. 

I assume BP stands for BiggerPockets.

If NYC has the names/addresses of people - then they stand a greater chance of being penalized.From my understanding - NYC has already been penalizing those that the city has been deeming big players in the airbnb business and mostly let go of the small fish.

Once you ask the above questions, there won't be that many left standing. 

I will definitely do that to see where we stand. 20% down seems like the way to do it to avoid MI.

We lived in a single family and couldn't  stand paying mortgage out of our pockets so we sold property and purchases MFR.

I know nothing about the toledo market and wanted to see if anyone knowledgable could help me determine if this toledo property is worth trying to wholesale.The property is located on Valentine st and the owner is asking 15k for the house.

Prior advice still stands on seeking a lawyer's counsel.

This deal the way it stands does not have enough upside to take the risk.