I don't like having a cease and desist but hey 40 years 5000 transactions one blemish I can live with.. but we were not going to win  this one.. the investors are not personal friends .. they are not close associates  they are BP members ( well non of them were)  but came from the same sources.. and we controlled how the investment went.. so we did what I think most of those in the note business do.. we created a fund.. in Oregon its called a real estate paper offering.. its a hybrid of the 500 series and the state was forgiving on me I had raised about 6 or 7 million at the point I got turned in  on my model.. they could have tattoo d me.. but 5k  and 20k for the lawyer and create a doc the state liked and we were done.. 

I think I have hit on a decent business that could employ 1 or two people and still generate a very reasonable return.My thoughts are the renter's would sign a loss and liability wavier and I would provide security cameras and lighting.

For Non-Occupying Borrower Transactions, the maximum LTV is 75 percent.

The tenants signed a 3-year lease, so we wanted to give them the benefit of the doubt and have a good working relationship with them. 

So tell your agent the deal is dead, they did all this work and won't get paid, unless they get a signed agreement from a tenant agreeing to vacate by 7/31/18 and your bank needs it by Wednesday

But it's not a large market (c. 70 property transactions all year) and incredibly tight right now (less than 1% vacancy rate), so very difficult to find sellers who are motivated to take a discount.

The first step is to get the contract signed so I would focus on that. 

You also have to work under a broker though so you’d want to be upfront about your investment plans prior to signing with them.I have never heard the thing about having to pay 70 percent value for a house if you are a licensed agent, it sounds like a myth .

I would let the lease sleeping dog lie.....right now it appears they have no binding lease, so you have flexibility to put them on month or make them sign Your lease.

Once the sign up for property management is completed, the owner is trapped by contract for a year.