A buyer normally is willing to pay a higher interest rate since they may be looking for owner financing due to difficulty qualifying with a institutional lender.I have obtained a much higher interest rate than what I would receive in any bank.I have also used the same process with a buyer by giving him multiple notes with each secured by its own mortgage.

It will be a learning process, it will be stressful but it will be worth it. then you'll reach the process 1-2yrs later :)

I'm interested in this land but there's a mobile home on it and the sellers only own the land so have no title for it, it does have two liens on it one from a bank and one from the County, I want to know if my purchase will be a good idea and if the process of putting trailer in my name is straight forward.

Even starting small in your local area is fine, you will learn so much from the process itself.

Enjoy the process and I hope to be reading about your first deal in the coming months.

@Matt Smith Hey Matt, A few items here: You can always offer the 80% of the listed priceThere is already meat on the beat, it is the $500 less than what you're paying right now, and YOU (no, sorry TENANT) is paying down your mortgageDuplexes are hard to come buy in your area [you found one of the unicorns-this is a sign lol] One item to watch is the number of rooms and bathrooms, which could increase your ongoing maintenance expenses, but you already have some capital set aside so you've got that covered too-you're rock n rollin!

I am reaching out to see if there is anyone that is currently self managing if they would be willing to meet for lunch on a weekend or coffee in the evening etc. to kind of run me through the process of how to get a property ready to rent. 

Plan to presale 70% of 400 commercial condominium units prior to construction to gross $150MM, just like we did in the previous similar project.The only missing piece is to have a JV or investor willing to show prove of funds needed to process construction loan, around 25 to 30%.

@Jessica GeislerI’m glad you followed my thought process.  

Currently in the process of forming a LLC to encompass my future real estate purchases.