Here in Kansas there are no regulations for a property management company.

There are a good number of regulations and rules you need to follow. 

Look forward to and discussing the local environment an the next meetup or just whenever. 

This morning I called a lawyer, and the lawyer told me that since I live in St Louis and my investor lives across the river in Illinois, that this would be an SEC regulated thing. 

I think the regulations would limit the benefit from this strategy but I don't know the rules inside and out like you would need.

=============================Title Insurance Company is irrevocably committed to issue to buyer an owners title insurance policy covering the property with standard coverage customary in the state where property is located showing liability in the amount of the purchase price and showing insurable title to the property vested in buyer, subject only to the following(a) Title Insurance company standard exceptions(b) Liens for all current general and special real property taxes and assessments not yet due and payable(c) liens of supplemental taxes, if any assessed(d) any facts an accurate survey and/or a personal inspection of the property may disclose(e) the mortgage/deed of trust/deed to secure debt lien in connection with any buyer financing(f) any laws, regulations, ordinances (including but not limited to, zoning, building and environmental ) as to the use, occupancy, subdivision or improvement of the property adopted or imposed by any governmental body, or the effect of any non-compliance with or any violation thereof, including but not limited to, any disclosure an/or report required by ordinance(g) rights of existing tenants and/or occupants of the property (if any)(h) covenants, restrictions, easements and other matters that do not materially impair the value of the property or the use thereof(i) non-monetary encumbrances disclosed to buyer in writing prior to entering into this agreement (j) any other matter for which the title insurance company agrees to provide insurance at no additional cost to buyer===========================================================

I googled some of this, some articles say that there are no regulations for this kind of stuff including skip tracers.Account Closed thanks for the info, would you know anyone who might know the answer to it.

I do recommend strongly to understand the laws and regulations for construction in NYC.

Does anyone know what RCW's or regulations I could use to double check my assumption and also help educate those that think this is wrong?  

Written in the loan docs for most loans are clauses that allow the bank to take the funds in your checking/savings accounts, sometimes for reasons totally outside your control, such as banking regulations and requirements.