Hi Al you can call Melvin great person easy to reach out to has offices both in NY and NJ you can private message me so I can give you his number.Best of LuckJacob Frenkel Madison Title AgencyMelvin Monachan, Esq.The Law Offices of Melvin Monachan, 

I will be moving to the Madison area upon my graduation in June.

Property condition and value (In case they have to FC)Borrower's ability to repay (Using an RMLO will help with this)Payment historySeasoning (How long has the borrower been making on time payments.Clear chin of title ( you might want to get a title policy to back up that sheriffs deed)The note itself, Rate, Term, Escrows etc.I would recommend structuring the note to Require escrows for Taxes, insurance and HOA.Have an interest rate between 8 and 10%Have the borrower pay the servicing fee  (Usually between $18.50 and $35 a monthI would then place the note with a servicer, there are a lot to pick from Allied, Madison, FCI, etc.

Also good school district in Madison

I saw folks buy rentals in Madison MS and not realize the CCR precluded the homes being rented at ALL they could only be owner occupied.. 

@Robert Madison can you provide more detail?

I'm in this for the long haul with a buy and hold strategy if that matters at all.There is a chance I could pick up a townhouse in Madison, just outside of Huntsville, for $150k before it goes on the market (therefore avoiding a crazy bidding war!).

I'm interested in buying a buy and hold rental property in Huntsville/Madison area of Alabama.   

Lucie, FL (6)4.Auburn-Opelika, AL (12)5.Madison, WI6.Ocala, FL (3)7.Knoxville, TN8.Surprise, AZ9.St.

@Madison Holland thanks for sharing!