I'm currently expanding my role as landlord jack-of-all-trades in an attempt to take advantage of my nights, weekends, and the skilled labor of people who have done work for me in the past, but don't have the infrastructure in place to formalize their own business plans and processes.Frankly, I would prefer to be a contractor full-time, but I haven't yet built up the pipeline I believe is necessary to allow me to quit my current W-2 job.

Hi Karen-Keep in mind that Ohio requires judicial foreclosure as opposed to F.E.D. action once either of the following two prongs are met-1. 20% of the purchase price has been paid;2. 5 years of payments have been made. 

@Andres Diego I had to get formal appraisals done on the properties and then I had to submit those along with the purchase agreements to the IRS.

The buyer would potentially provide a down payment (agreed by both parties) and then the seller will hold a promissory note for the difference between the sales price of the property and the down payment provided by the buyer.In essence, the seller then becomes the bank/lender and then must follow all of the same laws that lenders must follow in the event of a default and formal foreclosure proceedings must occur.In regards to the renting of the property.

so, besides the formal training in REI i have, i attended 2 of @Brandon Turner's webinars and just bought @JScott's book on flipping( i'm excited),  i'm so ready to dive in with both legs cos i don't want to be a victim of analysis paralysis!!.

@Toby Coons, what you are describing is a Joint Venture Partnership, which should be formalized in legalese writing if you proceed.

Even when I'm aware and I default a borrower for doing this, if I can see that there is progress with a refinance, I'll usually file my NOD to "Alert" the parties that I'm not playing (and to start the clock in case the transaction falls apart...happens all the time) but, i'll hold off on publishing (my scenario assumes non judicial foreclosure, meaning, not using the court system) to give them time to facilitate the transaction.

I wanted to give a formal newbie introduction of myself to Bigger Pockets, and to the Arizona Investors out there.

The mail not returned, I'd send them a more formal letter a month later.

It has more to do with noticing of parties and assurance of parties who have, may have or had an equitable interest and must be noticed in a legal action.Btw, a non-judicial foreclosure is not an "action" by definition.