You either have POF or a pre approval letter where I can talk to the issuer to be comfortable that it's worth something more than the paper it's written on.If they let their sellers take a $500 EM and a 15 day inspection, they're dummy RE agents.

If you put them upside down on a piece of cardboard, then spread a very thin layer of thinset on the back and let it dry, it will hold it in place long enough to allow you to place correctly.Make sure to follow his directions.

And true, any higher rent needs to be approved by the issuer of the voucher.

The problem is that it basically corrodes and deteriorates into cardboard paper.

@James Bowie True, but bonding companies expect that they will have no loss, if they are to pay for something in the issuer, they will for sure pay him.

There have been virtuous men and women in penthouses, but there have also been virtuous men and women in concentration camps and cardboard boxes.

I have no issue relying on appreciation but you need to be confident of the appreciation ideally by being intimate with the market - hoping for appreciation does not qualify.Is there a reason that you have chosen Phoenix? 

(although in poor neighborhoods it might be more realistic to use a combination of cardboard, blankets and trash bags to cover the windows. 

I think I have had cards from pretty much every major issuer of credit.

A sophisticated investor is someone the issuer/sponsor (the person organizing the syndication) believes is knowledgeable and experienced with financial and business matters, but is not accredited.With the passage of the JOBS Act in 2012 and the creation of several new “crowdfunding” exemptions, non-accredited investors (i.e. everyone else) can now invest in certain syndications.