I have heard so many stories of people getting burned by these guys in the past  that I am doing whatever it takes to avoid these issues.

Hello, I am a newly-formed single member LLC, and am planning on electing s-corp status to avoid self employment tax.

Lawyers can help you avoid legal issues and should you not be using an agent or title company I would highly recommend consulting with a lawyer on your deals as certain legal requirements are needed to complete a real estate transaction in Michigan.

Should I avoid deals that have too high ratio of expenses and rent ?

Hopefully, I can shed some light on the minefields to avoid as an investor and agent. 

you dont necessarily have to sacrifice your Criteria however you might want to adjust your criteria and make it flexible till you get your finances in order, its the best way to avoid getting ahead of yourself and getting slammed with hard hitting lessons.

.), or to ask another way, any banks to definitely avoid in regards to opening a business bank account (we want to flip and buy & hold single or multi-family residences in the Baltimore and Harford areas, just in case the kind of activity effects the recommendation)?

Gregg, That is very helpful, all that being said do you recommend taking a EM deposit or to just avoid it given all strict guidelines involved?

Is it okay at least to mail general "we buy houses" campaigns to preforeclosure lists without mentioning "avoid foreclosure"? 

Areas to avoid?