Having a monthly payment the borrower is happy with and a high yield you are happy with, are there any flaws in having a note setup this way?

Pick their brain over coffee, and ask them discovery questions to uncover what their pains are and where someone like you could potentially help out. 

Just consider it a learning experience.As others mentioned, you'd really be kicking yourself if you got in over your head, either by buying both and running out of funds or by buying the first one and uncovering a massive renovation problem you couldn't see beforehand.  

Anyways upon closing on our end, my Title company found a flaw and mentioned we might have to go through the foreclosure process again, and I might have ended up losing the house.

Meanwhile new construction luxury homes have exteriors that are rotting. http://6abc.com/home/troubleshooters-uncovering-co...

The attempt to compare us to Japan is flawed.

Hey kygregorI work for a company that is currently in the process of rolling out a new fully web-based property management suite, and we are looking for property managers to test it and help us work out any remaining flaws before it is officially release it to the public.I should mention that all property managers that test the software will be given a free license for 5 years, after that its pricing is done based on units managed.

Numbers were intriguing, but it wasn't without some persistent questioning that I finally uncovered that the broker selling it was also the owner, or at least had some partial ownership interest.

@Brandon Sturgill The formula isn't pointless, it is better than pulling a number out of the air, but it does have its flaws depending on what your strategy is and who you are selling to.

I took a page full of notes and ended up feeling fairly deflated.I have a deal I did and I'm not sure if it was fine or flawed.