I’m a broker and a friends mom called me today to help her find a rental for her.

Hi everyone,I am qualified to get the managing broker license in WA.

You can also represent both in dual agency as long as both parties agree with that and you have disclosed your representations correctly in writing to all parties.If you already approached the seller, as a licensed real estate broker in NC you are required to provide them with the Working with a real estate agent brochure so they understand the process and the representation.It sounds like that you have already negotiated something with the seller and potentially learned personal / financial information about the seller.

@Joel Price sent you my insurance brokers info.

Deal with local real estate brokers who has insurance covering property management.

Since you didn't mention, I'll remind that you have to be a licensed real estate broker to do it and have an insurance, which is more complicated than your regular E&O insurance.This is a tough business and if you're doing just your properties, like 10-15, I'd really first thought it through before starting managing others in big volumes.

If the Broker is holding the money in trust it is an easy transaction to refund.

I know what it's like to have buyers flake out, but have not experienced anything like this.I would suggest you go to your broker and get in touch with office manager or designated broker and see what can be done for you. 

I know never to trust or believe a sellers proforma or a brokers assurances that "this is a great deal"... unless you are the seller and it is your proforma of course *cough*, but what would you say are the hairiest items that people tend to miss?

Start talking to mortgage brokers.