Otherwise, the borrower can get work done, collect from you, not pay those contractors and subs, and let you take it.

Obviously now she doesn't answer her phone to collect that rent.

And now you're wondering how to collect the mortgage, or if you can foreclose on the property?

It's not a generalization, it is the most (the only) accurate data out there.

On a more serious note, I agree with some of your steps, but some are not only drastic, but wrong in the sense that they just can not be done.Example: Your list #9: Imagine your wife is attempting to collect rent from a past due tenant and they have agreed to pay her upon her arrival.

Does your property management have a plan in place for emergencies, or do they just collect the rent?

Once they have been dissolved, they have no rights or authority.Oh, and you can COMPEL them to account for how the money has been collected and spent.

I passed with a pretty good score overall...I don't understand why you'd want to get your license other than to access the MLS (Which can be a good thing at times, but isn't nessisary with other data services out there if you're in a covered area).

Why not collect any important information and put it into a separate forum.

MUST you get an appraiser to determine this or are comps and other data used?