The fire department came and turned the water off.We had just put new carpet in the first floor and new paint, so the next day or so had a guy come out and replaced the new carpet again and another guy replaced the burst pipe and put in a dry wall and paint the bathroom since that is where the pipe burst from.I wanted to file a claim with my insurance company but the agent told me not to file a claim with the insurance company since then the insurance company will know about it and the buyer agent can find that out and it would detract from the value of the house.Almost 4 months had gone by and I wasn't happy with him since he never contacted me and keep in the loop with what is going on other than a website he gave me a link to and a password to check what is going on which he hardly updated.

But, when you activities become such that the same ploy is used over and over and it is obvious that you are in the business and circumventing the intent of these laws, they don't need to read them totally in black and white, letter by letter as investors like to claim.

It is on my stack of 'to read' books so I can't give any feedback as of this post, but the dust jacket claims he's researched some 1,000 parcels of land.

I did that for several years and my cashflow is exploding month by month at this point.Please understand, I do not claim to know everything nor is this the only way that it can be done, but it is the way that I did it and still do it.

It's like $150 if I remember correctly.Once your LLC is set up, you just have to quit claim the property from your name to the LLC.

If the damages exceed the deposit you can ask your tenant to pay the costs (desired) or take them to small claims court (undesirable and costly).Instead of worry about the worst case scenario, which can happen, I would focus on your tenant screening process to prevent these issues.

My experience here in SW Michigan is this:- there are no true wholesalers in this area that produce enough volume that they can be considered a real source- if you want deals you'll need to market for them yourself; the others are keeping their leads to maintain their own business- I've heard from a few pretenders claiming they're wholesaling- make sure you check up on their claims, see if the properties are already listed, etc. 

there is a guy on youtube that claims to have this figured out.

You can claim to only be the property manager but a lease must be signed by the property owner or the agent of the property owner.

For an issue like indoor air quality, though, tenants could make the same claim and send their landlords down a similar rabbit hole.