I would definately stop doing business with them until everything has checked out.

here is some of the types of "waste" as defined by legal law that the homeowner is required to prevent at all times.

@Michael Rossi That's a mighty broad brush.Tenants that are living in "affordable housing" want the same thing that everyone else wants.

They are intended to provide a framework for defining what is and is not acceptable in society within particular borders (for example, the DC legislature creates laws that are applicable to DC).

The offending text of the bill is in section 101(3)(e), which defines who is exempt from being a ‘licensed mortgage originator’:'(E) does not include, with respect to a residential mortgage loan, a person, estate, or trust that provides mortgage financing for the sale of 1 property in any 36-month period, provided that such loan-- (i) is fully amortizing; (ii) is with respect to a sale for which the seller determines in good faith and documents that the buyer has a reasonable ability to repay the loan; (iii) has a fixed rate or an adjustable rate that is adjustable after 5 or more years, subject to reasonable annual and lifetime limitations on interest rate increases; and (iv) meets any other criteria the Federal banking agencies may prescribe.

PLEASE DEFINE OLDER, That can be a scary word. 50's, 60's 70's 80's.I need to know please.

Since nothing is ever sure in the reality of todays society and the judges rulings, My original statement of I WOULD BE TEMPTED to go against the grain, does not mean that I would rent to him, but I would definately consider him, if as was stated, he was responsible and did the right things.

You must define your goals first.

I know huh, I was trying to avoid funding fees but I guess I will deal with it for now.I will definately add them in, no doubt!

Hey Handyman.I presume that you already have the talk to make deals happen just by reading your post.You need to define what you want to do as an investor,the choice is yours: flipping,wholesaling, buy subject to, short sale or buy apt building.