They mention my loan of $101,000 from May 19, 2003 so they have done some research.This is supposedly based on FDIC and mortgage studies.Almost looks governmental: "Division of Consumer Services".Looks kind of phony.

Instead have your council hold it or the title company.The problem with the seller or counsel is they are supposed to return the money but even if the contract says so you have to chase them down or they take forever.When I was assembling land for a developer they always held the EM they put down so they didn't have to chase the sellers for it later even when it was due them contractually.

One additional tip is that you're supposed to pay interest on security deposits annually.

When they move out they have to or are supposed to leave the unit as they found it, move-in ready.

Should you stand until the market supposedly down cycles?  

I'm not sure where the term "House Hack" originated, but I suppose that is what you would call it. :) A little background for context: I have been fascinated with the idea of investing in Real Estate for years; researching strategies, reading about success stories, but never made my first move because I didn't feel that I was in a "good-enough" financial situation to do so.

I believe they do commercial too, so I will PM you his information as I'm not sure if I'm supposed to share contact info publicly.Here is the website: https://www.hubinternational.c...

The other option, I suppose, would be to flip the property to another investor and let them perform the rehab.   

I am very excited and was only supposed to dedicate a couple hours today to research I have been at it since 9am.

Definitely check out the REI groups within driving distance... you can find them on Meetup (we're not supposed to plug groups directly here).