Tell us more about the list, where it's from, how many on the list, what are your intentions for it (i.e.: Direct Mail, letters etc), and also about your plans for your marketing.

I do large commercial/institutional building energy audits and put together scopes of work with the intention of the savings to provide an ROI for the work.

Yes my intention is to purchase the property as an investor and resell it. 

hereI also remember her mentioning a website that guarantees you a refund of your exam fees if you do not pass the exam, but I will have to get back to you on that.Bottom Line: Take a breath and realize that 40% of people do not pass the exam their first time through (the stat that I was given for our CT + National tests).  

Example:  Cheapest comp: $10,000Target Sale Price (half of cheapest comp): $5,000 Target Purchase Price (half of cheapest comp): $2,500Make sure you intentionally leave money on the table.  

Of course this is judging their intentions and maybe they were less thief and more visionary.

My main goal is purchasing buy and hold property with the intent of a passive income stream growing and growing.  

What if he violated Fair Housing laws when renting it out (maybe not even intentionally but because he didn't know any better)? 

Typically you can take an amount equal to the earnest money as liquidated damages, pursue specific damages, or sue for performance.I doubt fraud (FBI style) would get much traction, because it doesn't sound the like the intent to deceive is there.  

If you had the intent and ability to buy under an option, and you're not in the business of taking options, you can usually slide by without any issues as to a license.