If the agent you work with is not familiar make sure the lender is, so you have someone who can confidently navigate this path for you.

You must hire locals who are familiar and acclimated to the culture of the city you plan to create rentals in. 

I’m also from Newburyport—if you’re familiar with the area, it’d be great to chat!

I’m not familiar with his program.

If not, then what he is trying to do is to avoid his reputation going down the drain and lose any future credibility and trust in the future. personally I am just familiar with the basics of buyer seller representations in a general sense you will need a FLA Broker or Attorney to describe to you based on the documents you have if there is a Duty from the agent on this transaction..

As far as advising your parents to leverage the equity in the properties to acquire more deals, I would leave that to a professional familiar with the local market conditions and residential investment experience.

I assumed the same thing, but I just wasn't familiar with this terminology until I looked it up on Google.

There won't be a lot you can do, but I am not familiar with the tenant laws in NM.

I am very familiar with the Alabama market and can lend some insight into that market as well.

I did have a relative living there and my wife went to school there so I had some familiarity with the city.