If you examine the potential fines and penalties and weigh that against the cost of getting legal and compliant and doing so still doesn't make sense with any solution (there are at least 3 for different sized operations), then getting out may be the best option.

The few I had gotten the nerve to go after, went to more experienced and better funded parties.

Part of me feels like screening for my own tenants in a different rental would be less nerve-wracking than having to go into an already occupied situation and have to back track to make sure all of my bases are covered!

If payments are slow or in default the examination can go deeper.Then if it's discovered that you misrepresented things, you could have problems.It's irrelevant if you know of someone who lied on a mortgage/loan application or if you know someone who says they know someone who did, or the amount you put down, or good intentions, knowingly presenting false information or obtaining a loan by deceiving an insured lender is a felony.I suggest you seek other financing options, with your down payment there should be seller financing options available, partner with another, if you have a retirement account you might be able to change accounts and borrow from yourself, seek private investors, do an installment deal like an option to be financed in the future in 3 or 5 years later.

Please give me some insight as I have not thoroughly examined the new law as yet.

I will be doing a thorough exam in the morning.

When I went to grad school, my favorite engineering teacher made this comment, and it struck a nerve.

There is growing literature where the environment in a home, post smoker(s) is examined and which is finding that the nicotine and other toxins, when painted over, eventually make their way to the surface again.

I've been factoring in the expenses so far on all the properties I've examined online.

Starting out is always a bit nerve-wracking, but if you educate yourself and prepare, you'll be fine.