You must have mentioned buying from folks in foreclosure for your attorney to suggest you look into the FC laws, if that's where you're fishing you better know the rules of that game, it's not a place for newbies to tread really, you talks with such a seller can open you up to claims that can burn you and as to what is said, the owner will most likely be believed over a buying investor in that climate.  

Neither of us are brokers as yet, but we're pretty sure there are contracts in play and want to be sure not to burn bridges in the process of moving forward. 

Basically, in case of a fire, the likelihood of one building catching fire means its only possible for 1 to burn.

.$100 for smoke damage and cigarette burns to vinyl flooring which required us to replace it prematurely.  

One concept that Biggerpockets promotes is to add value to someone in order to create a mentor-ship or to ask for advice.

I have been active on the internet lately promoting some properties.I received an email asking if i needed use of funds and for what for from a direct internet connection.I responded with:Transactional funding use of funds for 24 hours or maybe up to 3 days maxRehab funding acquisition to disposition 6 months use maxLong term hold funding acquisition, rehab and paying back the loan with funding from tenant funding 10 years if acceptable.Odd things:1) Speaks broken English with complete American Name (Sounds Asian)2) Uses a google voice number3) Asks if i am married4) Calling me several times asking me the same questions that i had already answered.5) Gave terms but never said anything about approximate value of property that he would loan on ie 65% LTV 70% LTVTerms:10% down and 5% Interest from $50K to 1M send a copy of my license.

Meanwhile, I have a burning desire to begin wholesaling.

The expectation is that you would have greater cash flow and no appreciation the further you get from the center of downtown.Some area's to look into if you have some cash to burn is the suburb of Grandville, Jenison, and Wyoming.  

Typical mentality of a state college level student.The only part worse than dealing the the students was dealing with the neighbors who complained about noise, the fire department responding to a burning couch in the back yard and the police for all kinds of nonsense including drunk idiots standing on the roof.

In my early days I accepted tenants who were referred to me by credible organizations and/or were personally known to me, did not do my due diligence and was burned.