I would expect an agent not versed in legal law to use such a letter or craft it.

The best license to get is one to practice law!

Not sure what your state laws are regarding L/Os but it could be a possible exit strategy.

Especially of working with preforeclosures, it's good to know laws/rules and procedures so you know what you are talking about.

You need to learn finance, law, biz operations, tax codes and more..

If that's what they do in FL. then put your brother-in-law in the company and pay him $200 a year plus whatever deals he finds, now you're a multi-member company. :)

That sort of talk leave me very concerned about why you would make that leap.Now, I have seen situations where kids bought a house with a "mother in law apartment" and let mom or dad move into that.

i would make the 7 days a residential lease per the laws in your state.

Some states also have laws defining dealer status.

If you start talking nitty gritty details like wear on a furnace, and basing decisions off the results from that analysis, you're setting yourself up to be in trouble because that's just too low-level to tell you anything that accurate.Think of it more like the Law of Averages.