Try your local library and enrich your mind on these things that can aid in you becoming a bigger pro in this game.We all are learning everyday to be better players in the game of business and i learn so much everyday thats sometimes i have to take a break because my head hurts from all the knowledge i consume all day long.No matter what you do always use a corporation or llc to play the game of business and never ever do business as a DBA unless you want to take the pain home when something goes wrong and you are 100% liable for.

Alot of what this is about is not a safeguard for consumers as claimed, in my opinion, but a way to make it very hard for the small mortgage broker to survive.

However, they've hired an attorney claiming wrongful foreclosure, under violation of the Texas Consumer Protection-Deceptive Trade Practices Act and along with it a Lis Pendens against the property.

It really causes the consumer to have to pay extra money at closing when the house doesn't appraise 80% value and makes the loan officer feel like you're greatly overvalued your home.

The reason that the risk is very low is that a successful investor will have the resources to handle whatever happens: refi if the loan is called, fight in court if the lease-option seller refuses to consumate the deal; etc.

I know fixing the illegitimate unit will be costly and time consuming, but at this price point and cap rate should I even worry that?

Louis, I suggest you do a Sub-To, that is a consumer oriented area, more so that in my back yard.

J if you cant adapt....you die in REI, especially with Consumer Protection (CFPB)The days are gone when you can write a REI contract on the roof of a car.  

The CFPB (Consumer Financial Protection Bureau) came way too late to the, “let’s punish the mortgage industry party.”

I also just wrapped up a 5/2 this week and they painted the entire place as well as cut the trim in a different color (time consuming), drywalled a newly added 5th bedroom (to finish), and patched small holes and that job was only $1700.