The damage was in excess of the security deposit.

They then look at you and start thinking, “Wow, this is actually going to be work†and then they lose interest.

Whether both or either is good is irrelevant you got to know what you are doing in either otherwise you will lose a lot of money and than some.

I totally agree FM will lose its shorts on these rentals.

I think you may end up LOSING money.

She claims, in the real world this doesn't work and that I will lose big time if I buy in low income areas even if there is great cash flow.

That isn't because of agency laws, but because you are have a very high chance of losing the deal without a written contract.How you "skirt" being a broker is that a wholesaler has an equitable interest in the property via a contract to purchase the property.

And, I don't think Cerberus should get a dime - they made a bet and are losing (although, their lawsuit against Daimler argues they were given misinformation).

Therefore, I would not excessively rehab a property if it is going to be used as a rental, especially in the price range that you're talking about.

You'll lose your rent credit, but you've collected the $200/month.