I am all for betting on appreciation though, just make sure you play a good defense game and never, ever be forced to sell. 

Unless you have a lot of money your worried about protecting, or a situation like @Marcia Maynard  don't run out and form an LLC thinking it will save you, and you can put any clauses you want in your lease, if someone wants to sue you they can, and if they have a valid reason for suing you, they could win.Get a good umbrella policy, at least $1 million, and manage the property properly,,the insurance will provide your defense if someone does sue you.I always put it this way, if your tenant tells you they smell gas and you do nothing, they tell you again that a few days later, you do nothing, and the house blows up and hurts someone, your in trouble, I don't care if you have an LLC, series LLC, 19 different shell corporations etc,,,you didn't take action to resolve the situation and will be held personally liable (after all you were the one that didn't take action).  

Wholesaling does not have to be in bulk of anything, I'd say the attorney was fishing for a point of view as a defense to possibly market his services, that wasn't even in the ball park.Looking at laws, you certainly look to definitions, what laypersons miss is the intent and purpose.

In short, the creditor must take steps to ENSURE the borrower has reasonable means to repay the mortgage. 110% LTV is not very defensible. 100% LTV is not very defensible.

you can all come to richards defense, but posting on someones forum time and time again saying "you cant do a deal, you dont know what you are doing. go read 15 more books first than come back to BP" isnt helpful at all.

Though I don't understand why you are so defensive to such a vague statement.

The option may include terms that before the option is actually granted the option price of a stated amount must be paid, say 1% of the purchase price applied to the price.All you're doing is getting an opportunity to take an option over 60 days, on day 30 if I'm going to actually take the option I pay a reasonable price that gives a defensible equity interest, not an equitable interest amounting to ten bucks.The agreement can give me access to a property.

I'm surprised that the city didn't use the "act of God" defense on the fallen tree. 

What I am interested to know is what are the lead indicators that would warn an investor to turn from aggressive mode to defensive or conservative mode.

I think your strongest defense is the fact that she told you she left the key under the floor mat.