Hi,I am a newbie from abroad and got the bug 4 month ago.Since then I read several books on REI and been here at BP on a daily basis.Now that i got some education and got my plan in hand, I am struggling with the next...

2) Does it only apply to homes that have been officially foreclosed on, so if I were able to identify people who were merely behind on their payments, could this be a solution to help them avoid foreclosure? 

I think that is a great idea in addition to providing a receipt for them it really identifies and clarifies what the expectations are.

Learn how to monetize opportunity every possible way and how to identify and manage risks as you get smarter.

Not sure what accounting software you are using I recommend using one that allows you set up business classes so you can identify income and expenses between the two types of businesses, this will help greatly at year end when it comes to seeing if you are at a profit or loss on each company.  

Yet, we see lots of new members all identifying themselves as unlicensed brokers, all believing they will make fast big money.

First you must be able to identify with near certainty all the reasons that the property is under-performing.  

Have you identified any markets of interest yet?

The fines and penalties could bury you.The way you avoid this is by securing each individual investor with an individual property or an easily identifiable interest in the property.

Both companies identified one problem the same.