Just having access though isn't enough, you need to have someone experienced in how to interpret the MLS data for it to be any more accurate than the syndicate sites (Zillow, Redfin, etc).

This is from my naive interpretation of what I find on realtor.comThanks. 

Does anyone know if I'm interpreting the MD trust laws appropriately?

Especially being out of state, things are interpreted differently.

The pieces are:1 - What is "at risk"2 - Who is "the risk"...and the concept is:1 - What is the direction of the "cash"The Bank's interpretation of all of this, and how it defines risk is:1 - What is "at risk"   A:  The Cash2 - Who is "the risk"  B:  The person "getting the cash" (loan)...and the concept is:1 - What is the direction of the "cash"  A:  From the Bank to the Borrower...and, the direction of the cash points at "the risk".  

Sounds like your three addresses are result of a completly innocent situation, but anything out of the ordinary is a red flag as to (a) mortgage fraud or (b) illegal monry transfers or (c) tax evasion.A letter of explanation may be enough; it will be up to the underwriters interpretation of compliance regulations.  

The ROI was just an example to prove that the overall return on investment was not decreasing as I interpreted your question from the original post. 

We probably need more info, but my interpretation was he planned to save (not exactly raise) the $2M himself.    

And maybe "fully covered" leaves room for interpretation as with most things in insurance.

Then you're not leaving anything up to interpretation.