New investors sometimes get caught up in such things, along with naming their company, designing business cards, creatting LLCs and other time consuming tasks that don't make money.

im full time in collegebout $300, no job, no credit(got denied card) is there any way i can flip houses?

You May have been to a Guru seminar if..........You believe brokers will continually submit deals to you although you have no capitalYou believe lenders look at the property ONLY when considering whether to lend you money, so that your multiple bankruptcies, credit score of 490, and $80,000 in credit card debt won't matterYou think that commercial real estate sellers will accept post dated checks for $100 as sufficent earnest money.You believe no seller is sharp enough to see through the numerous “weasel” clauses you put into your purchase contractsYou are persuaded that the only difference between a $1000 transaction and a $1,000,000 transaction are the amount of 0'sYou believe everyone who critsizes your plan is jealeous and wants to see you failYou believe that 20 years of hands on experience, a four year college degree in real estate and yearly mandatory education seminars can be trumped by the “intense training” 3 day seminar you just paid $7000 for.You believe that the $7000 you just borrowed on your newly increased credit line to pay for that seminar is an “investment”You can't believe people actually wasted $80,000 and four years of their life learning “useless” information in collegeYou believe assembling your real estate “team” is your key to success and a necessary first stepYou believe you can actually contract with the best “players” in the industry although you have no experience, capital, or track recordYou believe that once you find the deal that fits the formula money will come to youYou believe that your Guru has provided you with exclusive information on how to find “bargain” dealsYou believe one in a life time “steals” are an everyday occuranceYou believe you can be successful working “the system” on just weekends and holidaysYou believe the Guru got rich by actually doing real estate deals rather than by using a slick promotional sales and training systemYou believe the personnel provided to assist you are actually real estate investors who actually have experience and knowledge and aren't just some failed salesman reading from a scriptYou believe you're the first person to think of using BiggerPockets as your source of wholesale leads or to build a buyer listYou believe wholesaling is investingYou think the term is “whole selling” not wholesaling.

Lines of credit and SOME of the cash has come from credit cards.

She's lived there for five years, so this is an established tenant.Any other advice is greatly appreciated, plus any idea on late fees for a tenant not under a lease?

As Dion mentioned, Dodd Frank is much more about financing matters unrelated to this topic, don't tell me RMLO sit around reading about spreads on swaps and credit card servicing disclosures and claim they understand all of the content, do you folks really believe that?

Medical and credit cards aren't as worrisome as utilities and former landlords.

"Inability" (you have the ability) to obtain insurance after a certain point in the contract timeline may not necessarily be a get out of jail free card.

One guy has lost the key to his place three times in the last five months.

Hello,I'm looking at a property in NJ and the broker is telling me it's a 2 familybut I check the tax records thru the city and they have it listed as a 3 family.I'm assuming the city and tax records are correct.I asked if there is a green card (5 year state inspection) and the broker said that is only applicable to 3 family+ properties.If I buy the property and the state has not been inspecting the property, what is my responsibility?