To expand, new restrictive rules and penalties are coming from the Dodd -Frank Act, the SAFE act and are being interpreted and enforced by the Consumer Finance Protection Bureau.

In order for me to get access to MLS?

Hello BP,I'm just getting started into investing in real estate-- I also work for a company that offers access to all genres of attorneys to the general public for a low monthly fee.

Are there brokers that will charge me a monthly fee to access the MLS as a registered agent.

Your state may have more restrictive rules so you’d be wise to contact a good resident lending attorney.The question about pre-signing a DIL has been asked a hundred times here so you might do a search.

But it clearly wouldn't work for us smaller fish (I'm at 23 and I am definitely smaller fish to them).ESCROW ACCOUNTSThey want all the rent for the houses to go into an account that they have access to and they want security deposits in a separate account and they want reserves and capital expenses to go into yet another separate account.Add in another 5% just to manage all the separate accounts they're asking for.

More important, link up with either an agent or a property manager whose brain you can pick over a lunch or two and get to know what areas and strategies work in your region.Also, unfortunately, more important than the availability or access to 'deals' is your ability to finance or acquire them.

Look for distressed properties like REOs, short sales for on the market properties or get to know a wholesaler to get access to off market deals at good discounts off retail prices.

A new supplement to the HAFA guidelines "amends this restriction to allow servicers the discretion to approve sales to non-profit organizations with the stated purpose that the property will be rented or resold to the borrower, so long as all other HAFA program requirements are met."

That's why I didn't understand when you mentioned those restrictions about what you could and couldn't do with the property.