Hi, this will officially be my first post on bigger pocket.

The business model is rescue distressed buyers, rehab, place tenant/s, sell contract to new owner, all before the property officially changes hands. 

The bigger bigger concern are the changing security deposit and screening criteria laws in Portland paired with the new state level for cause termination ordinance.

Cost to defend yourself is usually more than the security deposit was in the 1st place.

I understand their position if the note is secured to property but if its not.....? 

Luckily, we've got some guests who have already secured September-November for us because of the local attractions/events. 

The good faith deposit may be refundable if they are not able to secure you with the terms they represent but a good faith deposit like anything else is negotiable, possibly less a nominal processing fee.

As you mentioned, there are some excellent capital raisers on BP...and the concern is not the model, just the candor.Yes that's what I mentioned you need to be in management and part of the GP team.. or an employee . in our state we could have two employees raise money and we just had to register them with the Division of corporate securities in Oregon... but just running around making referrals to syndicators with nothing more than a commission agreement does not work unless your licensed properly.. there are many boutique series 7 firms out there that specialize in this stuff.

My question is this: Should I secure a property management company to cover the land lording duties on my first couple of deals. 

If she backs out before the predetermined date do I make her responsible for rent fee, or just keep her security deposit?