I know I need to speak to a RE attorney, but thought I would try and get some info first.

People arguing for cheaper rents are self interested and not entitled to any special privileges

I plan to go speak to all the tenants once the deal is closed and see how they react to possible rent increase and covering utilities.  

There is a webinar scheduled for tomorrow night entitled: "How a Newbie Can Start Building Wealth Through Real Estate"You can register for it here:https://www.biggerpockets.com/webinarAlso, make sure you read or download the Ultimate Beginners Guide to Real Estate Investing:https://www.biggerpockets.com/real-estate-investin...Lastly, ask questions and stay active in the forums.Best of luck!

In fact I am looking at a house in Mid City as we speak.

I'm new to investing and have been looking to speak with local investors who may be able to answer a few questions about the current state of the market.

Since, you are new, i will expect you probably need to spend sometime studying the markets, and that is a full time time on its own...literally speaking.....My one cent!

(I'm speaking of North & Far North Dallas.) 

If I spend $12,000 I have a 50/50 chance of speaking to 30-40 people?

Or does someone inform the buyer that the deal was illegal and they are entitled to their money back and the buyer likes that thought?