If you called the lender that did the original loan they may just be trying to prevent themselves from getting portion of commission recaptured from an early payoff.

does having a contract with a listing agent prevent you from buying properties ... directly from owners?

That will prevent them from qualifying for other rentals, a personal loan, or a home loan.I have sent nearly 60 tenants to collections.

.: Quote from @Marcus Auerbach: My point was: the law was intended to prevent this practice.

So your 50k doesn't stretch as far as you think once you start adding everything up.Thank you for this information, it gave me a lot more clarity.I was thinking for my first deal, I could find a property for $125,000 including down payment and use an FHA loan so I only put 3.5% down, I’ll be using less of my $50K capital which will help prevent my $50K from getting drained after down payment, closing costs, etc, let’s say $12,000 total, I’ll have $38,000 left in capital. 

I am assuming the answer is "yes" to get credit card points and prevent a contractor from charging a premium on materials. 

•This prevents you from depreciating two roofs simultaneously.

Condos have much more risk than a SF rental.A condo HOA can decide there are already too many rentals in the community and prevent you from renting yours. 

This law basically prevents wholesaling when the wholeseller owns title.

I think it's okay to not have a deluxe backyard, see what the market is demanding.We didn't want to or have the funds to do a full renovation, Here are some things we did when we got our primary ready to rent:-Tore out fiberglass tub and surround in master bedroom-Had new tub and tile surround put in (felt nicer for primary bedroom suite)-New toilets and all new faucets-Hired guy to resurface all kitchen and bathroom countertops-Took down popcorn ceiling and had resurfaced/ painted-Neutral paint and trim throughout (had different colors all over prior)-changed out washer hook-up valves to prevent issues Things I wish we would've taken care of:-regular yard maintenance hired out and baked into rent-LVP flooring throughout (kept mix of tile and carpet)Just did final walkthrough and got keys this morning for tenant moving out.