Usually they settle on 50 cents on the dollar anyways.The collection company will send a letter that gives you the right to dispute the debt.They have to follow the "fair debt collection and practices act" among other acts and if they don't can get fined I believe up to 10,000 a violation.

If there is some dispute from these people later one, what will a judge think given that you made a quick profit here?

One of the first mistakes I made was assuming that the property appraiser's office would lower my assessed value when I disputed it.

Since I wasn't informed of the memorandum of lease at the time of the sale, they were on the hook for resolving my dispute with the laundry company.  

Actually, your basic liability policy won't cover you for any contract law disputes.

But the one thing that should be very straightforward is that there really is no disputing the numbers of putting the equity to work or not.There are always things to debate with real estate (too much work, I don't want to deal with tenants, there won't be appreciation).

Unless you plan on partnering with a manager you will be building a hospitality business which includes: communicating with guests, handling resolutions, scheduling turnovers, price optimization, guest experience, and a slew of other things that come with the job.

It can only be disputed - No offense meant to the Credit Repair organizations.

I live in TX where appreciation runs about 2%-3%/year (I had a guy dispute this to me on another site today, but he was citing statistics covering the last THREE YEARS).

I certainly didn't go into landlording to handle domestic disputes.