I have looked at them, but am having a hard time interpreting them.. they say that any individual who engages in lending that is secured my real property in a business sense (does so more more often than one isolated incident) would be considered someone who requires a mortgage banker license.

Is there anything we need to ensure is included in contract or other legal requirements so we can verify this is legitimate and extract her from it if not? 

@Michael Hayes you should discuss this with the S8 office handling the inspection.Most HAP contracts require a landlord to supply the fridge & stove, NOT the tenant.Violations of the HAP contract may lead to rent abatements and even banning of the landlord from S8 program (usually only with that specific Housing Agency).

@Wesley Jensen while he’s checking his legal rights, give proper notice required for entry for the evaluation, make sure you’re there to allow entry, and have it done.

What's your process and requirements for screening tenants?

- Based on the certification requirements, it seems that becoming a MLO is fairly simple process even if you've never worked in the industry before.

>I keep hearing examples about paying contractors $15k for a rehab that adds $40k of value, and similar numbers, which seems highly unlikely to meMy requirement is the value add has to add value at least twice the cost of the value add with a minimum add of $50k.  

Now i have decided to take a lot of things in my hand and also removing the PMC from many of my properties that have good tenants in Cabot area and Conway area and do not require much management and only keep them for inner city NLR type properties that have been veey challenging to manage unless it is section 8.  

Properties sold to Fundamental Partners for about 12% below foreclosure value.I wonder if 12% will be enough to weather the storm.I believe these are Fed Low Income Rent controlled, I wonder how much longer that will last (with no ability to raise the rents).There looks to be quite a bit of Physical Damage to some of the brick walls, and the Trash from the pics looks to be piling up to the clouds (Citation Level).I wonder what the occupancy level is, as there seems to be lot of mailbox doors swinging in the wind.Were these guys hand picked by the forecloser to take this over, or did it go to open bid with another lender underwriting a new loan?

I am not.What I don't like about midwest housing is the winter, HVAC requirement , city and theft.