It is part of the Superior court system, and operated within each county.Your questions are so basic but wide in scope as to imply that you want a course. 

One of my trainers is a guy in his late 60's that looks like a solo flex commercial.

There is nothing wrong with knocking on doors, it's the relationships and what is said or even implied that becomes a regulated issue. :)

Angela, as the earlier posts implied, you really need to do your homework. 

The interest rate on my first mortgage was in the high teens, we survived and the property today is long paid off and worth more than double its original purchase price.The U.S.A. and Canada have experience cheap money over the past decade which has contributed to an increase in real estate prices:  So what if you pay an extra 40K to get that duplex, the interest rate is only 2.5% (up here anyway) ... it's only another $180/month.There are a lot of folks who have been buying property with the implied premise that the Prime rate would remain below 4% when the historical norm has been somewhat higher.  

Donald,Are you implying that a reserve is not necessary on any and all other investment properties?

It is not wise to solicit them as if you are "helping them get out of their foreclosure situation" ~ because this tends to imply that you are aimed at preventing the foreclosure so that they may keep and remain in their home. 

I don't mean to imply that it's a bad idea, but it's something you need to ask yourself so that you can fully understand the value each of you bring to the partnership. 

Your use of the word "flip" implies that you are purchasing the properties primarily for resale and as such they are not eligible for 1031 exchanges.There is no statutory holding period or statutory laundry list for how you document your intent.  

"Home" implies that you may be living there.