@Erik TimmermansCongratulations on jumping in.Now is where you need to be extra vigilant conducting your due diligence.  

With the Mortgage Forgiveness Debt Relief Act off the shelf id be liable for the forgiven debt if I were to successfully conduct a short sale.My wife and I both work, so with some new lifestyle modifications, we have been able to afford to keep making payments (even with no tenants).

You know, a little more professional conduct.

I am a small business owner living in Central New Jersey, conducting my business in Staten Island NY.

Developers, who do lots of market analyses, are pulling out because of local government regulations making it difficult to conduct business. 

I have attended Guru seminars that strongly advised that an LLC be established before conducting business.

So to some extent, that's something for the parties to consider.Perhaps the word "claim" in regard to E&O was inartful, but that was what I was talking about, but as I said, I'm not an attorney.It's fun discussing these things until you remember that @Huso Akaratovic may end up with actual damages.OP is in Virginia and this is not a case involving willful or bad faith conduct. 

And it's conducted by affordable and professional vendors who specialize in apartments.  

Always disclose that you are an agent but solely conducting them as an investor (If wholesaling is your strategy for a particular lead.

(I'm a title examiner, and conducted a thorough search.)I do have a cash buyer ready.