If there is no defined amount of a fine and they decide to fine you the board can easily just vote for a fine amount and then impose the fine.  

Of course, e-mails started flying in -- I thought my roommate paid, I'm so sorry, we should have the money in a few days, etc.I stopped by thereafter and gave them a copy of the court page (they'll receive an official notification anyway, but I wanted to hammer home the point), and I told them this could have been avoided, but when you radio silence for 3 weeks its hard for me to not follow my pre-defined procedures.

I don't think there's a one-size-fits-all metric but it's certainly good to define it.Or maybe it's something else and I'm completely wrong!

This could also help you find a partner in the short run as someone with experience or money will want to partner with someone that has a clearly defined strategy to generate returns.

Once you define what you need/want in a deal then you can review it to see if it fits.

I'd love to switch to a simple national sales tax / VAT based system and get rid of the "income" tax since "income" is so hard to define and the reason our tax code is 1000's of pages long.  

Can someone define senior vs junior loan?

That selection might already be gone and so on.You need to define your passivity level desired and cash flow return.

Your HML wants a deal before giving you a preapproval letter and you can't get a deal in place without it.You need to have a talk with your HML and figure out a way to get a preapproval letter for the offer stage.An example would be: if it meets clearly define parameters, you run it by the HML in the morning and have a preapproval letter for the offer by noon.

If just listed, maybe it hasn't caught his attention yet.You definately need to gain access and determine the rehab work/costs.