Anyway, if the guy was irresponsible enough to lose his utilities and let food sit in a fridge for a month, what made you think he was going to diligently make sure to get it covered up by himself? 

I didn't read all of this.Next time in a contract have a contingency in the purchase and sale that ALL of the items listed have to be received for due diligence period to start.This way you generally know right away if the seller is hiding stuff.

I'll be checking these out for a funding source as part of my due diligence for real estate investing.I decided to forgo long-term care insurance because too many of these insurance companies went out of business and the policy holders ended up with nothing to show for it (health care inflation is much higher than regular inflation).

I won't repeat all of the good advice that I've read from others about doing your due diligence in researching the area regarding what rates the market will bear, what amenities the most popular homes offer, etc.

I feel like I shouldn't have to chase him since he's the one with the problem, and I cut him his check, so as far as I'm concerned my due diligence is met and the ball is now in his court.Can he keep that check indefinitely if he doesn't cash it?

I was able to identify that property for acquisition because I've built a computer program that allows me to pull data from the county website and identify properties that should be targeted for further due diligence.

It is advisable to do your due diligence and ask about such things as how long have they been in business, are alternative assets their sole focus, are they BBB accredited and rated, are they a regulated financial institution, have they ever been sanctioned by any regulatory bodies, how many accounts and how much in assets do they administer?

Also, ask for references of clients of theirs who are real estate investors and do your due diligence. 

The best way to protect yourself is by doing your due diligence. 

Go to IREM.org search for ARM certified call 5 ask how they select tenants.Download BP’s newest book here some good due diligence in Chapter 10.