I can't say there's a book that gave me much insight on specifics, mostly because the structure of so many deals is based on the market that the property is in, and regulations change so often, a book of that nature would become obsolete fairly quickly.

After speaking with a broker in Virgin, UT, I learned that capitalizing on that  Zion national park tourist vacation rental market can be (relatively) pricey and challenging.My investor and I are looking for something close to nature or smack-dab in nature; but, still close enough to modern amenities to resolve any issues should they arise (emergencies/food etc).I learned that if you are in the mountains, you will more than likely not have year round access, no water/rights, 2 hours away from amenities and no management willing to make the drive to check on 1 cabin, needless to say it was a little discouraging to hear. 

Im obviously new on different options on how to acquire properties, so Im partnering with my friend who is a sales guy by nature, and a really good one.

If there is a valid reason such as a family emergency or something of that nature I try not to be a heartless land lord but the truth is late payments are almost always a result of laziness and lack of priorities.  

We have zero problems filling vacancies but he isn't able to keep people very long due to the transitory nature of the tenants he's able to achieve. 

They are natural clowns, so they tend to make training comical at times; they like to put a little twist on your training program.

Depends on the exact nature of the loan.

This scale property doesn't get listed in our MLS too frequently, so I'm naturally excited to see if it's much of a deal.

If you have a decent deal, all you have to do is go post it on any major search site and it will get noticed, you will meet buyers (qualified and unqualified) and naturally grow your network.

Generally, it is better to try to come to an accommodation with the senior lien holder before purchasing at auction, but that can sometimes be a challenge depending on the nature of the loan and the identity of the lien holder.