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The worst part is that it's usually way too easy to get your license, and the consequences for these sleazy agents are usually non-existent or not harsh enough. 

Hi Jay, no luckily you don't need to be licensed in Colorado to wholesale properties, so that part is fine and totally legal as is in many states.

As you need to be a licensed foreclosure consultant to buy pre foreclosure properties. 

its very easy.. tehre are 35 states that do NOT require any license to do NON owner occupied loans.. very simple  talk to local attorney have them prep your note and mortgage and your good to go.. should not cost more that 1k or so for the docs..

What do you plan to do with your license?

Only thing better would be initial deposit and then paid in full upon Certificate of Occupancy and punchlist complete.Of course, standard items should also be checked: licensed, insured, willing and able to pull all required permits, reference checks.I would also commonly avoid the cheapest bid you get.  

Also find out if they are licensed and talk to that board.The fact that you haven't been paid the rent and they aren't answering their phone is not a good sign.It shouldn't take a long time, but it may cost you to break the contract. 

It also puts your agent and lender in a tough spot where it could be a perceived "fraud for profit" and they could lose their license and face time/penalties if they knowingly cooperate.

Although our license doesn't place restrictions on where we can practice, there is nuance to know within every state.