Brokers are notorious for promising all sorts of things and not being able to come through because they are just the messenger.

Thanks for all the info Greg,I have spent a good deal of time poring over the RTA, and yes, Ontario is notoriously pro-tenant!

I'd recommend an intervention or go with him (sometimes they allow a free guest to attend) and talk him out of it, just don't get sucked in yourself.Not all coaching classes are without value but Rich Dad classes are notoriously bad. 

Wells Fargo is notoriously horrible when it comes to short sales. 

Day care are notorious for those and I do not like those and neither do lenders.

Otherwise, short sales are notoriously complicated and frustrating to deal with and can take a great deal of time.

They (those banks) are notorious for lending an Alt A platform (UW)You need to have access to the banks not some yahoo that is passing around IMB, Homecomings type product that says he's direct to the mandate "of a bank" of all placesI got an IndyMac tape last week and was surprised I didn't see it direct so I asked my guy there and he was miffed as wellTurns out the tape was so old NOBODY remembered itMost of it sold last fall,I really have no idea why people shovel product to the masses, short their desire to get to a "real" buyerMy question though is what type of relationship will you have created when the actual entity wanting to purchase the package learns it is not real or won't trade at the levels offered (30's and 40's)Peace :beer:

The other concern I have is finding insurance for the house, given Detroit's somewhat notorious reputation it seems like it may be a struggle to insure just one rental property. 

That said, plumbers are notoriously outrageous in their prices when they have you over the proverbial barrel.

@Mindy Jensen,You can probably see that yes, in some cases with certain notorious lenders, DoS does indeed get invoked.In general, however, experience seems to indicate that as long as the payments are being made many lenders will find "bigger fish to fry" which won't cost them as much to go after.As long as REIs resist the concept of building a business before trying to run it, this will continue to be a point of discussion, I'm sure.