Katie, this whole thing sounds stressful, but based on what you described, it really doesn’t look like your husband is actually liable here.

The biggest variable is future rent, if you are guessing a couple hundret bucks conservative no deal will ever work.You are also giving your spreadsheet way to much power.

People who don't actually own property in Detroit 2.

.- These are actually pets the applicants are trying to avoid paying additional pet fees & rent for.

Well I guess because it does require real work they have to actually find the deals coordinate the rehab and get them sold..

I guess my main question is what do i do next? 

I work with all the big box lenders and I have worked with a private hedge fund and I have worked with smaller, local HM outfits and NONE OF THEM had anything like that.Because if the deal falls apart I am guessing they keep your 2500.

Guess what?

Quote from @Chase Calhoun: ...They were thoughtfully furnished, nice setups, and they actually performed well early on.

Actually, a series of Ponzi's.