Here’s a link to what MREC will and will not allow you to do:http://www.mrec.ms.gov/docs/mrec_news_events_guidelines_for_unlicensed_pers_assistants.pdfMREC is our licensing board here in MS.

Of course you can also just do cash for keys if there was no deposit, but still.

The key to the long horizon investor is that a retail purchase now will be less than a retail sale later (later being undefined but not influenced by artificial pressure).   

Or is it: back to the drawing board? 

It will depend on the property so yes there is wiggle room, the key to having criteria is to have realistic criteria that will actually show up in the market at some point. 

In our area it is MLS, lockbox key, State and NAR like it or not. 

@Charles Soper The key is to find it right in BiggerPockets community.

The key is being able to demonstrate your intent to hold it for investment when you purchased it.This why @Frank Adams talked about 2 years. 

You can go one or two blocks and it changes from a lot of distressed or boarded up houses to B class or even flip area.  

NEVER give anyone the keys until you have all move in fees, money due you in your hands and utilities (if they are to pay them) placed in their names.24.