If you bought a SFR up to large Multifamily with Interest only, highly leveraged, at the top of the price range, betting on rents increases, understating repairs and maintenance, then you will feel the pain.  

In many cases seller prepared financials or proformas often understate expenses.

I’ve seen some turn keys that understate expenses to again boost their claimed CAP rate.

Most of the time they will understate the repairs needed so factor that in.

Simple and understated, but lovely.

I understand that but the i think the idea of being a newbie is understated. i have been wanting to work in real estate since I was 16 and have been doing my research since then more extensively now tho.

Under state law, anything cover conduct of an agent?

Or perhaps your repairs were grossly understated.

From what I glean so far, and this is unofficial, property owners would not be liable under State laws where MJ has been legalized for either recreational and/or medicinal use.

But I've see more that are priced above other properties in the same area, are claiming rents that are above the local market rents, and are understating expenses.