I definitely value your feedback.If you use percentages of 10% for Vacancy, Capex and Maintenance, an apartment that rents for $2000/month (600$/month) would require putting aside $720/year more than an apartment that rents for 1,800 ($540/month) .

I was going to go to my first this past Tuesday, but kids were all exhausted.

I am planning on moving forward with the house and am currently looking for funding.Agreed a working young adult or a grad student would be better than an undergrad.  

@David DachteraYes some of the data seems stale sometimes but their "foreclosure" tab has been more exhaustive than any other website that I have found.

So how would this (in a legal sense) be any different than an investor buying a home to flip and doing a reno? 

It would take many lifetimes to exhaust those REI opps available and on all levels.

And even if I could, it sure seems risky to exhaust the majority of my savings, right?  

@Jonathan West,It sounds like you need an attorney rather than an agent/broker's opinion.

For those unforeseeable accidents, your liability insurance protection is far more likely to protect you than an empty LLC.

Are you saying that they were extremely or overly exhaustive in their efforts to properly vet qualified borrowers?