You need to read the sheriff sale information carefully, or if in a county with a magistrate then read their ruling. 

At that time, my friend encouraged me to get into real estate with the idea of creating passive income and wealth in future (via appreciation).

I’m aware that thousands of notes with their corresponding Mortgages/DOT’s are packaged up and as a whole create an MBS (mortgage backed security).

Once you're ready, create a goal (e.g., "I will buy at least one single-family home, duplex, triplex, or fourplex before the end of 2019") and then do it.

Like you, I’m diving into books and podcasts, but I also believe there’s immense value in learning alongside others and gaining hands-on experience.I’m in the process of connecting with like-minded individuals to create a community of new investors who are eager to learn, share knowledge, and even collaborate on deals.

However, he asked me to sign a one-year Exclusive Right to Represent agreement, as presented to him by his brokerage.His interpretation is that it applies only when he materially assists me, but I think the boilerplate brokerage language he was given reads much more broadly:"If during the term of this Agreement Buyer enters into a contract for the purchase of Property through the services or efforts of the Broker or Buyer’s Brokerage Firm, or by or through any other persons during the term of this Agreement" (emphasis mine).My concern is that, under my interpretation, if a fellow real estate investor wants to unload a property or if I get pointed to an opportunity by a former agent, colleague, or friend, this agreement could create an obstacle to moving forward with the deal.In the end, I didn’t sign.

Hoping to go down one of two paths:1- Buy a condo or small single family home and build equity and create value with my maintenance/construction background.2- Find a cash provider to do this on a larger scale with a 3-5 unit building. 

The contract can be assigned to the LLC you create in the future.

Seller financing, subject-to deals (taking over the seller’s mortgage), or lease options can create terms that work for both parties.

From my experience: SMS has the best conversion but is the most regulated, so it depends on the rules in your market.