@Donnell Cummings There were a lot of questions in that post...I'm going to try to hit all of them, though not in order. First off, you would open escrow with a title company licensed to do business in Texas. You don't necessarily need to open escrow in Killeen (where I assume the property is located). I use a couple of title companies, and they can close deals all over the state.
Once you open escrow, the title company will let you know if/how many liens exist, and what the debtors are owed. The only other way to know for sure what is owed on the is to speak with the lien holder directly.....but you usually can't do that without express permission from the lien holder's client (the owner).
With regard to getting info on the condition of the property, it really doesn't matter what the owner says, in my opinion, because they may not be aware of all issues, and in some cases, may try to hide the info. Ultimately, inspection of the property is your responsibility....and anyway, who better to trust than yourself?
If you plan on doing business in remote markets (virtual wholesaling/flipping), you need a partner on the ground in those markets that ideally is knowledgeable about the market and the area. Realtors are usually a great resource, and they love to make money, so you should be able to find one. Be very picky when it comes to selecting your partner on the ground...ask them lots of questions about previous investment experience. If you get the right one, issues like property analysis will be much easier and reliable. I would also make sure your partner has a nice network of investors/cash buyers so you can close the back half of the deal.
Looks like you're on your way, nonetheless, and taking action is usually the toughest part, so nice job. Keep up the good work!
