If you are going to be doing the rehab work in exchange for equity then that value needs to be determined up front with a specific timeline that you have to adhere to in order to earn your equity.

Adhere to the Fair Housing Act and ensure that all applicants are treated equally.

Most people are happy just to not take a loss each month. 

Do you guys ever take the risk of buying a foreclosure at sheriff sale with the previous owner still living in it? How do you calculate rehab cost given you can’t look inside?

The bottom line is this: Concealment is not asset protection, proper (time consuming and expensive, I know) management, and good, prudent, practices (ditto), WHICH ARE ADHERED TO, and insurance (expensive), are needed for asset protection.

If your contract states that "time is of the essence", you could have forfeited your right to break the contract and get your EMD back simply by not adhering to the dates specified in the contract.

Although some people will yell that 'this is mean, of those poor people' it has to be done like this.

It's people like you who cause folks who would actually benefit from an ESA to be painted with the same broad scammer brush. 

Here is my system that I have shared on the forums previously:It all starts with online ads, within which are several pre-screening questions I request be answered in their response to my ad. Here

Failure to adhere to the strict requirements of notice may jeopardize your case and cause unnecessary delay in the processing of the eviction.