Hi Heather,I'm not aware of the laws in Maryland so you'll need to check with a R.E. attorney but in many states, if a tenant breaks the lease by moving out early they are responsible for the remaining rent for the duration of the lease, however, the landlord has to make a true effort to re-lease the property and if they are successful then the tenant is only responsible for the period when the property was vacant. 

Be aware though, there have been reports of apparent shill bidding on that site (e.g.: somebody gets outbid, but then gets contacted and told they were the high bidder -- you can find more info searching the forums on BP).

Are there any local laws I should be aware of?

Feel Free to ask me what that is if not aware.  

The only thing worse than paying an accountant is spending the many hours doing it yourself only to have the IRS come knocking on your door asking for more money or not knowing that there was a tax shelter you weren't aware and therefore didn't take advantage of.

Thanks Michael, I think I was looking at HARP and HARP2, wasn't aware that HAMP could be applied to investment properties.  

I'm sure you're aware, but 4/1 is 6 days away.

An investor financing it, you know how the older guys like the sell, finance, rinse and repeat, they aren't aware of predatory financing aspects yet.

I just want you to be aware of what is going on.

How does the insurance companies know/become aware of your vacancies so thoroughly/expeditiously?