You can bird dog for others. 

A typical model may look like this (very simple version):WholesalingInputs:20 hours per week for the next 3 months$10K cashActionsEnter into agreements with Bird Dogs to look for properties for me ($1K for each deal I close)Spend 5 hours/week contacting members of my team (Bird Dogs, realtors, title companies, friends and family) to locate propertiesSpend 5 hours/week making offers on propertiesSpend 5 hours/week working deals to find buyers for my propertiesSpend 5 hours/week negotiation wholesale deals between sellers and buyers$100 - $2,000 earnest money for each purchase contract$5,000 towards the actual purchase of a property per monthOutcomesEnter into 5 purchase contracts per monthAssign 4 purchase contracts per month for at least $5,000 eachComplete 1 property purchase per month to buy and hold and generate positive cash flow of 10% per yearThis is a very basic sample of a real estate investment mode for Wholesaling (and I threw in the buy and hold for fun). 

With NO MONEY DOWN, I've managed to make new friends as well as associates bird-dogging.

There is no need for the dog and pony show.

I wonder what difference it would make if applicant #1 has 1 dog and applicant #2 has 2 dogs.

Dodd Frank only applies to notes originated AFTER that date is inaccurate because it fails to take into account there were numerous laws regulating finance behavior prior to that date including the SAFE Act and a raft of others that have discussed in great detail in this forum.Further, while the servicing law extensions referred to did not go into effect until January, that does not allow a new acquisition (which is what is being proposed) by a servicer of pre January contracts any kind of grandfathered immunity from the legalities that existed at the time of origination. 

They do have a pool, clubhouse and dog park which everyone loves.

I also require all students to have parent co signers to guarantee rent AND add a layer of accountability for behavior.  

I would venture to guess that will walk away from 500 million or more in Ghetto dogs that have been sold to them in Detroit Memphis , Rochester, indy, Cleveland etc etc.

(It doesn't.)There's no such thing as a free dog, and there's definitely no such thing as a free house.