I don't know how strictly it's enforced.

I figured that as long as the numbers make sense and homes are selling quickly, that having a strict "criteria" wouldn't be necessary (aside from at least a good understanding of where I DON'T want to buy and the cost of the project). 

I'm doing very well in an area that people are "surprised" that people come to stay (suburbs north of Detroit) thinking that it's strictly a quiet neighborhood with nothing going on but people have 100 reasons to travel and some are not so obvious.

I have to say there are liabilities that I did not know when I was strictly an Investor but I am starting to learn that now.However, that being said, it's given me ideas on how to work within the scope of the Real Estate License Law and still give the Investor a great service!

I usually help with basic labor, but this property I asked to work deeper with the financials, and project management.With my real estate license, I hung my license with company that will allow schedule flexibility as well as payment per task, as opposed to strictly commission.

Strictly for pricing a property I want to buy, I will only include actual repairs and maintenance.

Is this strictly solved by having a partner who does qualify?

Additionally, routine acceptance of late rent can effectively change the due date requiring the landlord to send written notification that moving forward, the terms of the lease will be strictly enforced so that the landlord can once again evict according to the terms of the lease.

My experience in real estate so far is strictly educational considering I have yet to dive in. 

Less competition compared to MLS or short deals because of strict terms of the foreclosures (being physically present, having the cash available, etc)Cons: You can lose ALL of money if you are unlucky and didn’t conduct some thorough due diligence.