@Michelle Sharkoa few thoughts:-buy in good neighborhoods-stay local - there is no substitute for being hands-on. 

The 3-day and 30-day notices were served (substitute service) on his business partner (the store manager who is not named on the lease) rather than the leaseholder, who was absent both times.

I just don't consider it a substitute for cash flow because you can't count on it, and because of it's limited growth potential. 

A qualified Veteran-transferee (buyer) agrees to assume the VA loan and substitute his or her entitlement for the same amount of entitlement originally used by the Veteran seller.

It is great to ask the advice of folks here but nothing substitutes for getting the information yourself. 

Verbal offers don't mean much - if you are a serious buyer/negotiator -PUT IT IN WRITING along with a copy of a check (I always use what we call a "Skinny Contract", this is a one page document.)Show the seller what he will receive over the period of owner financing --if seller took back $100,000 @ 8% interest, interest only payments, paid monthly with a balloon at the end of 60 months - would look like this 8% x $100,000 = $8,000 a year ($666.66 a month for 60 months = $40,000 plus the principal balance in a balloon payment of $100,000 - so the seller get his equity of $100,000 plus $40,000 in interest) these facts can be very motivating.Seller needs to know about capital gains and the benefits of seller financing and installment reporting.Seller can use the financing note as a down payment or other real estate or sell the note at a discount.Seller can split the note - 4 $25,000 notes or 2 $50,000 notes - again these notes can act as down payments deposits on other real estate, sold or retained as monthly income or given to relatives as gifts.When seller financing is accepted - you may want to consider the following agreements or clauses: Always build in a discount in the event you pay the note off early (big savings here).Always make the mortgage a First Subordinated mortgage - this means that if you refi - you can place the seller's mortgage in 2nd position - since a lenders usually wants to be in first position.Make that mortgage fully assumable with release of liability - that means when you sell the property, your buyer can assume it, and you are released from the obligation (this is good)When selling the property - you can do a wrap-around - meaning if your interest to the seller is 5%, you can wrap the mortgage at a higher rate - like 10% - that means you are making 5% on money you owe - this is sandwiching the mortgage (this is good - never stop negotiating)Build in a clause that allows you to walk the mortgage to another property with equal or greater equity - this is called substitution of collateral.

Nothing substitutes "experience". 

Then, I started substituting 'pick your brain' with 'eat your brain' and that caused me to stop having a whole lot of unproductive lunches.If you want to bring value into someone's business, you have to think of what you know that may benefit them.

There's no substitute for hard work and old-fashion talking to people and hustling.

@Rick Albert @Clayton Silva To be clear….Assuming a loan means that the buyer actually applies to the current lender to qualify for the loan, if the lender agrees, the buyer substituted for the original borrower, with the original borrower being totally released.What you are referring to is buying Subject To the th existing loan, where the seller remains liable….a Very risky deal for the seller and generally only done by someone either desperate and/or ignorant of the risks.