You are dealing with a more sophisticated owner.Since they've gone to the expense and inconvenience of estate planning, what is it that you have to offer that a quaiified end user or licensed broker/agent would not be the preferred route to liquidation?

In my experience, there are 2 types of investor who dominate the space:Type 1: Well financed speciality hedge funds with low cost of capital: These sophisticated investors have teams of experts who focus on knowing everything they can know about each lien and have the funds to be able to bid the price down to zero or even pay a premium to get a lien.

Non-accredited investors can buy a note or they can invest in a fund that allows non-accredited investors (some funds allow up to 35 sophisticated investors) or a fund that utilizes a crowdfunding platform.

This is a good lesson for me in perception Michaela. 

1. I’m planning on investing for my first time but don’t know exactly where to invest in and the process. I want to start with at least $10,000.

2. How does investing works?

And everyone (including many "sophisticated macro investors") was convinced GBP/USD would stay above 1.60 and Brexit would never happen - turns out Brexit happened and the exchange rate moved down to as low as 1.20. 

From the purchasing perspective you'll likely be dealing with a mom & pop vs a more sophisticated seller.

Investors in these deals are completely passive by definition and thus that is what sophisticated equity is worth.

Non-recourse financing is far more advanced than any other financing mode discussed here, if fairly underwritten and usually not appropriate to small seller financed transactions unless accomplished by sophisticated investors

My perception of a team is that every member has a purpose and that the whole is greater than the sum of the parts.