Essentially, the terms I quoted in my first post were their "no doc" loans.

How much below is essentially your economic vacancy. 94% is physical occupancy, correct? 

Cut out ALL non-essentials and look past next Friday!  

One thing I should note is that this property is essentially a failed listing.

This is essential, especially when just beginning to create your portfolio.

You are essentially asking for legal advice.

One stock I purchased because of advice from one of these phone calls was for an oil energy company that I researched afterwards.

With more than one tenant in a multi, you essentially will be in a position that a building would never be vacant and relying on one rent check to pay the bills.

It is not like looking at a stock chart, which is essentially today's price minus fees.

Grounds for denial of issuance of license or for disciplinary action(A) In addition to Section 40-1-110, the commission may deny issuance of a license to an applicant or may take disciplinary action against a licensee who:(1) makes a substantial misrepresentation involving a real estate transaction;(2) makes false promises of a character likely to influence, persuade, or induce;(3) pursues a continued and flagrant course of misrepresentation or makes false and misleading promises through associated licensees or through any medium of advertising or otherwise;(4) in the practice of real estate demonstrates bad faith, dishonesty, untrustworthiness, or incompetency in a manner as to endanger the interest of the public;(5) represents or attempts to represent a real estate broker other than his broker-in-charge or property manager-in-charge without the express knowledge and written consent of the employing broker-in-charge or property manager-in-charge;(6) guarantees or authorizes and permits any associated licensee to guarantee future profits from the resale of real estate;(7) makes a dual set of contracts, written or otherwise, by stating a sales price higher than the actual sales price in an effort to obtain a larger loan from a lender or lending institution or for the purpose of misinforming a governmental agency or any other reason;(8) is convicted of violating the federal and state fair housing laws, forgery, embezzlement, breach of trust, larceny, obtaining money or property under false pretense, extortion, fraud, conspiracy to defraud, or has been convicted of a violent crime as defined in Section 16-1-60, has been convicted during the previous five years of a felony directly related to the practice of the profession, or has been convicted during the previous seven years of a felony, an essential element of which is dishonesty, reasonably related to the practice of the profession, or pleading guilty or nolo contendere to any such offense in a court of competent jurisdiction of this State, any other state, or any federal court;(9) fails to report to the department in writing by certified mail, within ten days, notice of conviction of a crime provided for in item (8);(10) fails, within a reasonable time, to account for or to remit any monies coming into his possession which belong to others;(11) pays a commission or compensation to an unlicensed individual for activities requiring a license under this chapter.