By default the wealthy will read this and want to go and support you.

I've found a few online though I'm looking for one that has-property description, condition, purchase price, closing date, default clauses, insurance contingency, risk and loss damage, adjustmentsDo I need all of this and if so where should I get it?

Did you put them in default and notify them you were getting a new contractor and they would be responsible?

We require co-signer to be local and a real estate owner, so that in case of default we can lien their real estate.

Here's a casein FL - Seller in foreclosure has 120k principal @4%, Shes 10k in arrears, house is worth about 250k, good condition.She wants to stay at the house, but doesn't mind selling it if needed.She will likely not qualify for a loan mod at the moment, good amount of equity.She works in the medical field, just took sick and fell behind.I was thinking of offering to pay her 10K in arrears and creating a 2nd mortgage @ 10% interest.if she defaults, i can foreclose,  as there is a bunch of equity there.any thoughts of a better scenario that i can make more of this situtation?

I would suggest pursuing tax default leads before the go to auction.

We have in the past purchased notes in default, but this represents a different risk profile.  

Tenant must be up-to-date with full rent amount payments.) and default.

Hard to find good deals up here and lets not even get into the issues of tenants who default.

Default rates for Canadian bank mortgages are something like <1% vs 3.6% in USA I believe.