I only invest in areas that we would live (me, my wife and our little daughter), and for us that means we naturally avoid D areas. 

Just the nature of real estate.) 

Once you have scaled up a bit and have some hard and fast procedures in place you can take what you like about the state form and then add in what you would like it to say concerning your specific processes and procedures, write all that down and send it to a lawyer to bless. 

What does your current lease say the procedure is? 

This is the procedure: have a meeting of the minds, and then they send the check to the closing agent for closing.

I expose myself to other stuff for the sake of a natural curiosity and to gamble a little.  

You are now the bank with all the protections of foreclosure procedures. 

What are their policies and procedures?

Most likely the state where the property is located is where lawsuits would be brought if they are something for personal injury like a trip and fall or something of that nature because the “cause of action” arose in that state.

As I've told you before, I have  never referred to myself as a "guru" or anything of the nature, . . . ."