Per regulatory servicing guidelines a defaulted borrower is to be made aware of alternatives to foreclosure by a form letter sent by the Mortgage Servicer.  

You need to study basic business law, taxation, regulatory issues like Truth-In-Advertising, the Fair Credit Act, aspects of the Uniform Commercial Code and the rules that are applied to business that apply to all business activities, not just real estate.

The numbers on short-term rentals should be far greater given the increased economic and regulatory risk.

Who's the governing body for a state's real estate laws?

In particular, I think they do a good job of covering some of the regulatory information related to notes (CFPB, RESPA, TILA, FDCPA, how all of that affects borrower outreach, etc).

They have a state body which governs their actions and can bring discipline as needed.This may also put you in a better situation to pursue damages when another contractor comes in and you have to pay to fix mistakes or issues, etc.I too like Wayne dislike hostage negotiations.  

As the regulatory landscape has gotten more complicated during COVID-19—with a halt on evictions and late fees, as well as other local laws being passed to help keep renters in their homes—property managers and their knowledge within the market, ability to maintain profitability and tracking ever-changing legalities are even more valuable than it was a year ago.If you've owned income property for any length of time, you know that managing a rental can be financially rewarding.

Not just a body at an Open House.

Then those same bodies were counted via Census for federal monies to be distributed.

This information should not be construed as legal, regulatory, tax, personalized investment, or accounting advice.