Depending on your state and local rules, and whatbisnwritten in our contract, you may be able to sue for damages.

Your points were very identical to what he mentioned.Any extra advice is always welcomed!

I read through the rules and one that I thought was odd was this...

They can't sell them because the paid too much. know the rulesSome of the risk is not knowing the rules.

Volcker Rule is a big threat to them.

I evaluated the deal looking at comps in the area (hard to come by), the 50% rule, the 2% rule, and common sense based on my personal situation, knowledge, and availability.

Rule 2) Disclosure, Disclosure, Disclosure When you are setting up this type of transaction make sure you are upfront with all of your intentions.

Welcome to BP Nation.Investing strategies are universal and can apply around the world, except for specific local laws and rules, you should be able to learn from this board.

Google the Foreclosure Tenant Protection Act for all the rules and possible exceptions (eg if the rent is below market value or they are family members of previous ownerIn addition to that law, you'll have to check local or state ordinancesGood luck

I didn't know all these rules.