Buying Notes and becoming the bank

[Rhonda C.]

I am new to Bigger Pockets and just went to my first REA meeting where the speaker talked about buying non-performing notes and "becoming" the bank ie refinancing with the occupant. The details in how to actually do that were not discusssed as "you could learn about them in our three day class for $2000". Any insights from BP members as to the whether or not there is wisdom in making this my first ever RE transaction or not and what the $2000 secret sauce is would be appreciated.