I would assume that the tenants trying to pull a fast one with this loophole are a littler rougher on paper which might allow for a screening qualification to be missed.

If not it may be a hit or miss and some instances you may find out after you have purchased the property. 

in hindsight, you should have bought the property sub2 from the owner as soon as he started missing payments. take over his payments for him and he deeds you property and walks away with no foreclosure on his record. its probably too late now as the bank will want to recoup all the money and most likely list it with an agent. good luck i hope it works out.

Your broker isn't a moron, he's right.However, he may be missing a key element here.

You need to have someone secure the property immediately or coincidentally, your furnace, HW Heater, and copper will come up missing within days of their moving.  

I've missed out on too many opportunities because I'm stuck in a meeting or on a task that had no relevance to my job what so ever.  

If you are planning to move to Florida which I have you are going to miss the Pizza right away.

Don't miss The BiggerPockets Podcast - they are great for learning how others are finding success.Also - here's a couple articles you might enjoy:The 21 Best Real Estate Investing Books Ever How to Rent Your House: The Definitive Step by Step GuideHow to Be a Landlord: Ten Tips for SuccessOh - and be sure to set up some Keyword Alerts- especially for "Woodside" so you'll be notified when people mention it here in the forums.Thanks again for introducing yourself!

Money is the side I am missing.

College kids want to listen to loud music, drink some beer on a porch, and have a good experience.