I guess the only real conclusion of this exercise is do your numbers in your market, figure out what your goal is going to be and what it will take to get there.

For a fun thought exercise, I'd look at what kind of a real estate investment you could make with a $55,000 investment. 

Person has contacted me as a hard money lender to exercise the LO and purchase it outright. 

Typically my first step is to look for a new channel to advertise and get the word out, but I'll also look at some other listing to see if there are ways to enhance my listing & make it more appealing...

We are just trying to exercise our options & do our research.

fbclid=IwAR2Uh4zlbEpU2YtQ5SvOxW5q5ivrDlxX0f07gAa6wXKRQjC94upMRy1iJ30Should enhance property values.

However if you have an ownership interest in the property then I think that the law you mentioned may not apply.You’d have to ask an attorney but it might be possible that if you had an option to buy the property at a certain price then it would be sufficient interest as (in theory) you would be protecting your potential future property (if you were to exercise the option).In practical terms I’m not sure that the law you mentioned is aggressively enforced; i.e., there are probably many unlicensed people who manage other people’s properties in RI every day of the week.

@Tim Puffer I thought wholesaling would be a good way to get my feet wet, and provide with the capital to exercise different strategies once I get some experience.

Failure to do so, could lead to a monetary fine.If a landlord is found to have retaliated against a tenant in response to the tenant’s exercise of his/her rights, a landlord now faces a penalty of $2500, or $7500 for a repeat offense.

The risk with these types of deals, is that the lender can exercise the due on sale clause, which would mean the note is due in full.