Google up the state state statutes....that's where the law, procedures and waiting times are.

The state of Illinois has a statute that some people interpret as requiring a license for note holders.

Property management can help reduce liability by:● Screening for high-quality tenants● Assuring property conditions and safety● Evicting tenants following applicable laws and local statutes● Inspecting units before and after lease terms● Providing rent and security deposit collection● Handling lease signing and terminationA dedicated property manager can help reduce your risk of legal trouble by assuring that your lease and property follow all applicable rules and regulations.

I have found, and wholeheartedly believe, that it has made me a far better landlord.With NJ's anti-eviction statute I have the potential to have any tenant I place, be with me for life.

When I asked about whether I was allowed to seller finance, he said he'd call me back, and did an hour later with the statute that said my LLC couldn't do it.I followed up with my question about involving a licensed MO in the transaction, and I could tell by his response that he was making an educated guess as opposed to knowing for certain the answer.Unfortunately, at that point, it's not like I can say, "It doesn't sound like you're very confident with that response...can I ask someone else?"

My problem with the gaming of the system is the removal of correct information that just makes the borrower look bad.Personally, I'd like to see the fraud statutes extended to cover the case where someone disputes an item they know, or should know, is true.

The statute of limitations begins upon the discovery of the fraud, it could be 15 years later and paid off, doesn't mean you're in the clear.Being clever in a loan application is not being creative, the information given is either correct, with full intent of providing correct information or it's not, black and white!

The Statute of Frauds requires it to be in writing. 

City of East Cleaveland, SCOTUS struck down zoning which prohibited a grandmother from raising her grandchild in the same house because the statute intruded upon the "sanctity of the family" (and other issues).  

I would check your state statute to see exactly what they require.