It's been challenged all the way up to the Supreme Court, which has previously ruled that there is no breach of contract for agency without a written agency agreement.The text references a Supreme Court case where an agent was awarded commission based on the buyer/seller conspiring against the agent, but given that the OP didn't appear to have any agreement (written, oral or otherwise) on this particular property, I don't see how that could be argued.  

The Federal Trade Commission was after Olmsted took it all the way to the fl Supreme Court to crack his LLC.  

There wouldn't need to be lawyers or a Supreme Court if it were that simple. 

He'll still have a Supreme Court that is slanted to the right, too . . .While he has helped to get out a new part of the electorate, he has not done much to educate that electorate.

As well there is the whole question of whether promissory notes are securities or not, a question the Supreme Court took up in the case of Reves vs Ernst and Young.

@Robert SteeleWhile I agree the statute does not specifically give the mortgagee a redemption right, it is well established in case law (all the way to the US Supreme Court). 

He doesn't believe in precious metals because if things get that bad again ammunition and guns shall rain supreme.

Houston seems somewhat reluctant to try to enforce that ordinance, having had various other ordinances struck down in the past by the Texas Supreme Court. 

Unless you're buying at a supreme discount, I don't see how an investor makes money in this market.

This is not to say the landlords will win, but the Supreme Court (this one in particular, which is more conservative on economic issues), may take a look at this, and be very skeptical.