Either way I'm happy to give advice and help you avoid some pitfalls I've seen my colleague experienced.Hope I gave you a broad answer  :)

Last week's Podcast #169 has a section that does a really good job explaining how notes can work, and the possible pitfalls.  

I was hoping to find someone to talk with on the phone to learn about some of the principles, pitfalls, best practices, etc.

However, in the past when I dealt with homeowners I insisted that they sign a notice I provided spelling out all the pitfalls if they did not perform as promised.

I wanted you all to review and pinpoint possible pitfalls and you've done that.

What are the common pitfalls someone with my age and experience falls into?

I am also looking for a mentor that can alongside of me and help with possible pitfalls.

I know that city liens can be a concern as they may not be recorded at the time of sale, but what are other common pitfalls.

Hi @Kimberly MarieWithout making any assumptions as to the sellers intentions, the situation as I see it is she wants to sell the house for 50K cash just before leaving the country and she doesn't want the transaction to be handled by a third impartial party (the title company).Being new myself, if I were in your shoes, I wouldn't do anything without escrow just for the reason that a title company will alert you to any pitfalls.

Mainly around how you got started, what pitfalls to avoid, which business investments are necessary and worthwhile and which are not, etc.