We are new to this and have been reading and studying the landlord tenant act but everything is so gray.The statutory details are in NCGS Section 42-46, but your lease should spell out all the terms related to default.

If someone could please spell it out for me, I would really appreciate it. 

If you are getting or holding financing, it will be spelled out there.I don't know what commissions you're mentioning.  

I will investigate this in more detail before I start making offers that are closer to the asking prices.My plan is to use the same systems I use for the 100 units I manage (I own only 4 of those units) which is: *Heavy screening on the front end and creating hoops to jump through prior to showings *Only showing properties to qualified people (people who meet my rental standards of no felonies, no UD's, and must make 3x rent)*Making bullet proof leases that spell out what is expected of me and what is expected of the tenant (so I don't have to do things that aren't in the lease such as changing lightbulbs and treating for bugs if it isn't a building issue--if the tenants don't keep the apartment clean). 

By the way, my last name is spelled Rishel - not Rishes.

The MLS can be hit or miss, I find the good stuff comes in waves followed by a few months of a dry spell (currently in one).  

Hi Lance, I'm from Baltimore and own some rentals there, although I'm living in Abu Dhabi for a spell at the moment. 

The wholesaler should be able to provide the paperwork from the bank that spells out the restrictions.  

But spell it out clearly that he's out by a certain date and beyond that would be cause for eviction of both tenants.

Also if you spell out Colorado you will get more local folks to respond as we have key word alerts set up.