What laws/regulations should new investors generally be aware of? 

For information about Scottsdale rental properties, check the HOA and municipal laws.

If so, you are in very dangerous territory and should definitely STOP all your dealings with this transaction until you consult an attorney and the CA foreclosure consultant laws which specifically prohibits taking advantage of homeowners in foreclosure (in default) against predatory investors. 

A local property manager can handle tenant screening, maintenance, and rent collection, which is especially useful if you’re not living nearby.Legal and Regulatory Considerations:Local Laws: Be aware of local rental laws, including landlord-tenant laws, rent control regulations, and short-term rental ordinances if you consider Airbnb.HOA Rules: If the property is part of a homeowners association, review the HOA rules and regulations regarding rentals.Financial PlanningRental Income: Ensure that the projected rental income covers mortgage payments, property taxes, insurance, maintenance, and property management fees.Tax Implications: Understand the tax implications of owning a rental property, including potential deductions for mortgage interest, property taxes, repairs, and depreciation.

Hey guys, I wholesale full-time and recently started here in Upstate NY, I have some questions for someone familiar with real estate law/wholesale here and closings and will appreciate any help!

And yes, I will pursue damages to the fullest extent of the law. 

And I am advised to report it to Law Enforcement as a crime. 

The laws vary from state to state and even some local municipalities have ordinances that could affect how you deal with this situation.

If the wholesaler makes someone believe they own the property or markets the property (as compared to marketing the contract) the wholesaler could in fact be in "agency" and violate numerous laws.

Success requires thorough screening, clear boundaries, budgeting, networking, and staying informed about local rental laws, and market trends.Good luck!