In addition, the property management requires that: 1. the deposit be made in money-order or cashier's check (ie, no personal checks accepted) 2. the rental agreement be executed near the official move-in date (ie, about 2-3 days prior) Are the two requirements above legitimate?

If he is in that business, then he is probably hurting right now with the market down and maybe he over extended his portfolio and stuck with a bunch of projects that are complete ready for sale or projects in various forms of completion, but at any rate there are no sales going on and therefore no cash flow coming in, but all those bank lines he has needs to continue to be paid.It sounds like you have a legitimate action against him, but if you do bring an action against him at this time, then you could spiral a down fall of the company by other lenders or investors following suit and push him into bankruptcy which means nobody gets paid very much.I think right now, if you have a speaking relationship with him, you may want to approach him and have him reiterate what your share of the gain on that transaction was and have a new contract stating your new return.

@Duncan Taylor Im not sure if you didn't read my entire post or not...Any legitimate business has an objective or you may say a purpose/goal.In my post :Written down goals are huge and that is what a business plan is .

Legitimate?

I need a legitimate site to pull comps from that's easy to use.

@Torrey Brandt Have you invited any bankers to the property tour to show this is a legitimate business?

I ask buyers for $500 non refundable so there are some consequences there if buyer walks.Again IMHO the contracts just make u look legitimate and official and let's everyone know what's going on and the terms of the sell until the actual closing day.

I would never go through all of that work knowing that they could legitimately kick me out 30 or 60 days later and I would have to start all over.

But if the assessment with ratio applied  comes in way higher than your PP then you have good grounds to appeal and say the market value is what someone would pay for it and it was on the market x days and we don't know each other or have any affiliation, so my PP is the best indicator of market value, and that does tend to work if it is legitimately the case.

Just trying to figure out if I have a legitimate case to make the property manager pay.