Many of the housing regulations that exist are an extension of this basic responsibility, fire codes, building codes, providing locks on the doors and exterior lighting to mention a few.

This person should always be up to date with local laws and regulations to ensure they are looking out for my best interest.And finally, two more things to keep this thread burning:1.

Best to check with the local housing authority to see what the regulations are regarding set outs, as they can vary from state to state.

In particular, RE laws regarding the handling of client money is a regulated activity with stiff penalties.

Anyway, read everything you can and become very familiar with real estate and financing rules, regulations and law.

The entire reason Fannie and Freddie were created was so that instead of 1000's of individual lenders each lending on their own unique criteria, which would be impossible to regulate, the government would have only a couple of lending institutions creating criteria which the government could regulate.

Should the property management profession be regulated with licensing requirements?

Oh, and get familiar with Sec8 regulations.

The government is in charge of regulating Wall Street, how is that working out?

The rule applies to state or local laws or regulations, including zoning, land-use or building regulations, private covenants, homeowners' association rules, condominium or cooperative association restrictions, lease restrictions, or similar restrictions on property within the exclusive use or control of the antenna user where the user has an ownership or leasehold interest in the property.