One of my rules is that I do not want to invest in an area where my Property Manager would need to gun to be able to go into the neighborhood at night alone.

I've been buying REOs in Detroit and Indianapolis to rehab, rent and hold, but the 4-5 Fannie Mae/Freddie Mac property rule has just about maxed me out.

Welcome to BiggerPockets Alex.Here is a link to a very exhaustive thread that should answer most if not all of the questions you listed above.http://www.biggerpockets.com/forums/12/topics/19967-can-someone-please-explain-this-5-rule-to-me-?

So, the RESPA rules and terms don't apply.

You need to check your states laws on the rules of those LLC's.

This is weird because most politicians made these rules about taxes and business.

Does this extra tidbit change the rules?

If you don't learn the rules to the game you will lose.97 percent of the population at the age of 65 will be eiter dead broke or still working.

The rule of thumb from that other thread is that expenses run between 40 and 50% of rent.

is there a rule or a limit that applies where you can only bird dog certain houses?