Details!

Can you provide more details?

State law will govern requirements for a commercial broker.Yes, you can turn in the matter to the State Attorney General, the State Highway Patrol probably has a fraud/scam division, report it to them and get a case file number.I'd call the FBI as well as he may have crossed state lines or pulled the same thing elsewhere, they may have jurisdiction under federal banking laws depending on the details and as financial fraud.

If anyone has a reference case (like a REC Disciplinary Report) please post the details (w/o names may be better).

I appreciate that detail about the subs.

They look like good deals, but I don't know all the details.

While it's possible to manage a property remotely, it's not the easiest thing in the world and you can still make great returns in markets with someone else managing all the day to day details for you. 

@Joshua Dorkin Just e-mailed the details for Error Code 500 to support, while sending a PM to another user.

Tax Fearing Seller to his office where he can explain in detail exactly what the tax consequences really are.

These articles from The Mortgage Professor go into the detail if you're interested:Cancelling PMIFHA-Specific RulesNote there are rules for occupancy, timeliness of payments, duration, etc.